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April 9 (Bloomberg) — Gokaldas Exports Ltd., India‘s biggest garment exporter, says the rupee’s slide to a record low helped to win orders from rivals in China, where the yuan gained against the dollar in the past year.

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“The yuan’s stability and the rupee’s drop is an advantage for every local exporter to get more business,” Rajendra Hinduja, managing director of the Bangalore-based company, said in an interview. “We are now competing and winning.”

Gokaldas, which makes Gap sweatshirts and Nike tracksuits, and Sarju International Ltd., a producer of Reebok sportswear, say they are becoming more competitive after India’s currency fell 20 percent in the past year to 49.89 per dollar, while the yuan rose 2.4 percent. The rupee was the worst performer after the South Korean won among Asia’s 10 most-active currencies in the past 12 months as economic growth slowed and the global credit crisis prompted funds to sell emerging-market assets.

To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net

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