Recently, the Indian rupee hit a new low as it slid down to 80.05 against the dollar. With a 7.5% fall against the dollar, this depreciation is bound to impact the Indian economy and various industries. While this INR fall lays heavily on numerous industries some industries stand to gain from it.

With a multitude of Indian talent emerging amid the various industries operating in a global landscape, foreign businesses find it lucrative to employ services from India across the following industries:

1. Offshoring Industry

With business operations being performed in India and the outsourced company charging in dollars, the industry will gain massive profits from the value gap between dollars and INR.

2. Consulting and Analytics Firms

Several consulting firms operating from India provide services to global businesses. Though the operations of these companies are based out of India, they charge in dollars. Consequently, these firms are bound to leverage the decline in the rupee.

3. IT Engineers – GIG

There has been a substantial increase in the talent percentage of IT engineers, specifically in the gig economy of India. IT personnel who run their operations from India are under the payroll of global centers; earning in dollars, they are expected to leverage the high dollar value.

4. GIC: Senior HC on Global Payroll

The significant expansion of offshoring industries and GIC industry across India has enabled a practice wherein various senior management personnel are in India but are under the global payroll. This group of people will remarkably benefit from rupee depreciation.

5. Talent Employed in Export Industry

With an increase in the value of the dollar regarding the Indian rupee, people employed in the export sector would unquestionably benefit. As the inward flow of money will be in dollars, the export industry will experience a boom in profit margins.

6. Freelancers

With platforms such as Fiverr, Upwork, Kimp, etc., it has become easier for global businesses to connect with talent all over the world. The massive gap between dollar value and the Indian rupee will benefit the segment of graphic designers, content writers, and academicians who work remotely but earn in dollars.

7. Electronic Data Publishers (Global Products)

With a growing demand for electronic data publishing, numerous foreign-based publishers find it lucrative to get their requirements fulfilled from India. As a result, India-based electronic data publishers providing services in the global market are set to profit from the sliding value of the rupee.

While the 7.5% fall in INR value will have an approximately similar increase in the percentage earning of personnel from the above-mentioned industries, talent recruiters might have to roll with the punches. With candidates having the opportunity to earn more by working remotely for global companies, hiring the right talent for the right price would become an uphill climb.

With the depreciating rupee value against the US dollar, challenges lie ahead for recruiters. Even if recruiters are able to locate the right candidate for the job, matching their salary expectations might be a challenging task. Organizations would have to opt for a suboptimal candidate or expand their budget to hire the top talent; in both scenarios, the company may face losses.