Here is one sector that is happy about the rupee depreciation. Indian pharmaceutical companies that have huge base in the western markets are poised to make good of the widening differential in exchange rates of the currencies between the two markets. CNBC-TV18 caught up with Biocon chairperson and managing director, Kiran Mazumdar-Shaw, to figure what is happening with the company and the industry.
Speaking to the channel in an exclusive interview, Mazumdar says that the research division is set to benefit from the fall in the value of rupee. "That apart, Biocon will see margin improvement in exports due to the rate differential," she says.
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