Rupee is falling continuously against US dollar, Jamnagar's largest
small scale industry "Brass parts industry" is taking severe hit with
this fall.
As Indian rupee is hitting new lows against USD each day, brass parts
industry is facing double hit, one from the rising input costs and
lacking of orders due to eurozone crisis.
Jamnagar brass industry is paying more for each ton of brass scrap
import, the balance of rupee-dollar is very crucial for sustainability
of the business.
As USD is nearing the 55 INR sentimental milestone, many locals are
worrying that this may go up to 57-58 INR. Normally Jamnagar brass
industry consumes around 400 tons of brass scraps per day.
This is down
to 200-250 tons, with units reducing the operating hours from 8 to 5/6
hours.
Jamnagar has around 5000 units, this industry employees around 2-3
Lakh persons, and annual turn-over for this industry is 2,500 to 2,800
crore each year.
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