Tirupur exporters brave financial storm
The financial crisis in the US and Europe has affected the export capital of India, Tirupur, hard. As the meltdown in the US has everyone seeing pink, Tirupur's exporters worry that retail biggies could go the Lehman way. The reason for the worry being that many banks are not certifying orders from foreign buyers, while earlier contracts were negotiated even with discrepancies in delivery period and forex rates.
