India's Exports to be Hit by Yuan Devaluation: Trade Body

New Delhi: Exports will be hit and the trade deficit might widen after devaluation of Chinese currency yuan by 2 per cent, which is bound to raise the competitiveness of outbound shipments from the neighbouring country, the Federation of Indian Export Organisations (FIEO) said on Tuesday. "The devaluation will affect India's exports not only to China but to other countries also with increasing competitiveness of Chinese exports," th...