The Indian rupee traded near record lows in opposition to the US greenback on Tuesday, slipping to 88.15 after closing at an all-time low of 88.18 a day earlier. The depreciation has offered exporters with higher value competitiveness however raised issues for import-heavy sectors.Exporters stated the autumn within the rupee presents a blended image. “On one hand, it enhances the price competitiveness of Indian products in global markets, particularly as exporters diversify beyond the US. On the other hand, for sectors with high import dependence such as gems and jewellery, petroleum products, and electronics, the cost of imported inputs will partly offset the currency advantage, squeezing margins,” Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai stated, PTI quoted him as saying.Exporters diversify amid tariff menaceThe authorities has urged exporters to diversify shipments past the US, warning that Washington’s 50 per cent tariffs on Indian items may dent shipments. The US accounts for about 20 per cent of India’s exports, amounting to $86.5 billion in 2024-25 out of a complete of $437 billion.Sahai added that the rupee’s weak point provides a possibility to deepen presence in rising markets whereas pushing for larger home worth addition. “That will reduce import intensity and ensure sustainable export growth,” he stated.Importers face rising paymentsFor importers, the impression has been rapid. “The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars,” stated a dealer, who didn’t want to be named.India meets 85 per cent of its oil wants by imports, making petroleum merchandise notably susceptible. The basket of imports additionally consists of crude oil, coal, plastic supplies, chemical substances, digital items, vegetable oil, fertiliser, equipment, gold, pearls, valuable and semi-precious stones, and iron and metal. Overseas schooling and overseas journey are additionally anticipated to turn into costlier.Kanpur-based Growmore International Ltd MD Yadvendra Singh Sachan stated that stability was essential. “Any volatility in the value is not good for both exporters and importers. At the current scenario, 85 will be better,” he stated.The rupee’s slide has been attributed to uncertainty over the Indo-US commerce deal, capital market outflows, and weak home equities. Forex merchants stated dangers stay skewed to the draw back amid tariff issues.India’s exports snapped a two-month decline with a 7.29 per cent rise to $37.24 billion in July, however the commerce deficit widened to an eight-month excessive of $27.35 billion. During April-July 2025-26, exports rose 3.07 per cent to $149.2 billion whereas imports elevated 5.36 per cent to $244.01 billion, leaving a commerce deficit of $94.81 billion.