Fallout of rupee breaching 90 mark: Get ready to pay higher for consumer goods; here’s what may become costlier

Consumers may soon have to brace for higher prices! The depreciation of the rupee beyond Rs 90 against the US dollar could force various sectors including consumer electronics, beauty products, and automobile manufacturers to increase their prices. This increase may end up eating into the benefits after the recent GST rate cuts. This potential price rise might neutralise the positive sales momentum these sectors saw after recent tax reductions. Companies dependent on imported components or complete imported products are seeing concerns. Several companies had postponed their price increase plans, despite escalating raw material costs, due to potential government oversight following the GST reductions effective September 22. Manufacturers of smartphones, laptops, televisions and major