The impact of Weakening rupee against dollar had given an edge to exporters for overseas markets. The reports coming from Indian Laminate exporting companies are expected to reflect better realisation and profits. This Indian rupee impact will certainly benefit Greenlam Industries, said Mr Ashok Sharma, CFO of the company. “We have been the largest exporter of laminates for the past 12 years. However, we do the import for our raw material, but we are net exporters, so the weakening of the rupee will have a positive impact on us,” says Mr Sharma. It is noted that the rupee hit a record low of 81.5525 per dollar in the last week of September 22.
India is the highest exporter of decorative laminates in the world market, and more than 40 manufacturing units are engaged in laminates export business. Indian companies export laminates sheets in different thicknesses and sizes to more than 100 countries through its own warehouse, distributors and direct to customers. Indian laminates are used in many prestigious projects in US, Europe, Middle East countries, and the rest of the world along with furniture, kitchen tops, wardrobe etc. Indian laminates have earned a good reputation in the world market because of its quality, design options and fair business practices. Indian companies have been participating beautifully in overseas exhibitions in Europe, US, Middle East countries etc to make more customers about its quality and designs.
As per report, Indian laminates export business crossed Rs. 2000 crore mark annually. Greenlam Industries has maintained its top rank in Laminate exports followed by Merino, Stylam, Royal Crown, Century laminates, Virgo, Deco Mica, Airolam, Amulya Mica etc. The high prices of dollar against rupee have brought good news to them, who have engaged in laminates export business.