17 May 2012 | Analysis | By BioSpectrum Bureau
Currency fluctuation is a challenge for Asia Pacific life sciences companies
Currency fluctuation affects companies
Fluctuation in currency value has resulted in many companies showing a negative growth. Even inflation has a direct impact on the cost of living leading to attrition within an organization.
"Rupee appreciation is generally helpful for industries which rely closely on imported inputs, while depreciation of the rupee is welcome news for industries that are exporting majority of their products. Waiving off some duty component could be a way to overcome this challenge," says Dr Bhuwnesh Agrawal of Roche Diagnostics India. He adds that inflation has a direct impact on the cost of living leading to attrition within an organization. "It also has an impact on the cost of goods to our customers. As an organization, we have constantly been looking at ways of enhancing and improving the overall services and keeping price increases, if at all, far below inflation. The high salary increases add to these issues," he says. (Read about all 10 challenges for businesses in APAC)