"India's exports to Japan are largely of goods like apparel and marine products that they (Japanese companies) do not produce locally so these products are not competing with the domestic manufacturers. So despite the depreciation there would not be any impact even though these products may get costly for consumers there," director general and CEO of FIEO Ajai Sahai said.
Weaker yen could, however, hurt some of the bigger Indian companies who have borrowed abroad in the Japanese currency.
The hedging options could however mitigate the impact.
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