Rupee slide gives sleepless nights to computer traders

LUDHIANA: Record fall in the Indian rupee against the US dollar, which even breached the Rs70 per mark last week is giving sleepless nights to computer and parts traders of the city, which is the biggest market of computers and peripherals in Punjab.

Ever since the rupee starting registering a decline in the past few months, the rates of computers, parts, accessories, and software — more than 95% of which are still imported into India from other countries — has been hiked by 5-7%, and businessmen fear that if the rate of US dollar increases further, it would hurt their businesses badly, as already they have started registering a fall in their sales. According to businessmen, printers, toners, hard discs, and other hardware items are the ones which have registered the maximum increase in prices.

According to Varun Gupta, a prominent wholesaler of computers and parts in the city: “More than 95% of the , including software and hardware, are imported from other countries into India. For the past few months, with the rise in rate of the US dollar, the rates of these items too have increased sharply, and there are some products rates, which have been hiked by up to 7%.”

Gupta also informed: “What is even worse is that the present rates of computer items are of the time when the value of the dollar was Rs69, and ever since, it has increased by more than Rs1, which means there will be a further increase in the rates of products billed by companies to us.”

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