New Delhi, Dec. 5 -- The Indian rupee's recent slide beyond the 90-per-dollar mark offers little relief to its exporters, most of which are struggling under the weight of crippling tariffs imposed by the Donald Trump administration. The only clear winners from the depreciation are the country's dominant information technology (IT) companies, while sectors with high import content grapple with surging production costs.

While a weaker rupee typically enhances export competitiveness, its 5% depreciation this year to become Asia's worst-performing currency is proving to be a weak cushion against the 50% punitive tariffs that the US president unleashed on key Indian goods in August.

The damage extends across crucial sectors, including textil...