Related Keywords: boost exports amid a slowdown, export-driven Chinese economy, face adverse impact, facing slow move, Indian textiles exports and clothing, its currency yuan, recessionary conditions in global market, sudden move on part of China, to devalue
Indian textiles exports and clothing due to recessionary conditions in global markets is already facing slow move, to further have an adverse impact with the sudden move on the part of China to devalue its currency yuan, an industry body has said.
China's central bank on Tuesday devalued its tightly controlled currency by close to 2% to boost exports amid a slowdown in the world's second-largest economy and the recent stock market crash.
Even as global exports are on a sliding path, this decline in global demand is putting pressure on the export-driven Chinese economy.
