As the Indian rupee continues to depreciate against the US dollar, many companies are adapting by shifting a portion of their payments for imports from China to the Chinese yuan. Electronics manufacturers such as PG Electroplast and Super Plastronics are among those making this transition, aiming to secure better pricing from suppliers. PG Electroplast's managing director, Vikas Gupta, noted that while banks are beginning to facilitate remittances in yuan, the long-term advantages of this strategy need careful evaluation. Additionally, department store chain Lifestyle has significantly reduced its reliance on imports, cutting the share from about 15% to just 5% over the past few months, while Woodland has also shifted to local sourcing for footwear. The rupee has depreciated roughly 3% against the dollar since the onset of the US-Israel conflict on February 28, 2023, and has hit a record low against the dollar, breaching the 95-mark in late March. This depreciation has prompted companies to explore alternative payment methods and bolster local sourcing to cushion the impact of rising input costs.