Stronger rupee means americans have to pay more for their imports. The developed nations have exploited the world all these days !. Stronger rupee will get us cheaper oil imports.. vital for all sectors of the economy !. Now we have to find a market internally.. for those products that are exported till now !
And what if every country in this world seeks to boost thier exports - what happens then? But first things first - throw out the luddite Communists from power at the center, and that included the Kaangress Party which started all the mess in the first place. The next logical step is total liberalization of the economy, allowing true laizzer faire to blossom, growing the economy and creating employment in every sector of the economy. When that happens, a stronger Ruppee would be the least of India's problems - the national economy would become so robust that dependence on exports would not play such an important part anymore, and a stronger Rupee would actually be beneficial, as it would allow more cheaper imports and keep prices down, which help to keep inflation down.
Though Stronger Rupee would hurt indian IT in short term (profits) but will be beneficial in longer run as it will force them to jump onto high value job. Many reports suggest (even common software guy feels) that India should take upon high value consulting & R&D . Ofcourse,the knee-jerk reaction of extending work hours in IT & salary reduction would not survive. This forced eceonomical condition would make the companies more innovative & wud lead them to more innovative way of servicing.Overall Beneficial Agenda for the IT industry has been set as an hobson's choice,which would make the indian IT more competitive and in turn benefit the industry for a long time. Indian IT companies are sitting on huge cash pile to survive these swings for short term. So,Stronger Rupee is good seriously.!!
After the N-deal with US through 123 aqgreement, India will slowly but surely be under the US umbrella, gradually submit itslef to US control and then, the INR will turn into USD.
I sincerely hope that this scenario is only an illusion and not going to be a reality !
RE:Rupee will touch 1:1 parity with USD
by Suhas N Sakarkar on Aug 07, 2007 04:39 PM Permalink
I will be happy to see that and going to US in Rs 10000 or even less and enjoy life moments with my complete family.
If USA and UK had thought this way 50 years back they would not have been the top economies in the world today. The writers of this article are influenced by some foreing hand that is not intersted in seeing the indian currency grow in strength.
I really do agree with this,Our imports are far bigger than our exports,Gradual increase of the rupee doesnot stop any export grown, It may have some effect but for some time but int he meantime all the imports into the country will be cheaper major is oil the biggest importer material we are stuck, As this contributes to the pricing of all essential commodities in the country.Hope this is enough for now.I want our rupee as well our country on top of exports and growth.
NO DOUBT INDIAN EXPORT INDUSTRY IS HARDLY HIT. BUT ONE SHOULD NOT FORGET THE PLIGHTS OF NRIs STAYING ABROAD AND SENDING REGULARLY MONEY TO THEIR FAMILIES IN INDIA.ESPECIALLY FROM GULF COUNTRIES WHERE THE CURRENCY IS PEGGED AND FIXED TO DOLLAR SINCE 1996. WE HAVE VIRTUALLY LOST OUR SALARY IN TERMS OF INDIAN RUPPEES BY 15000/- WITHIN SEVEN MONTHS.
WHEN WE ARE HAPPY THAT INDIAN CURRENCY IS VERY MUCH IN DEMAND WORLDWIDE ,ECONOMY IS GETTING STRONG WE ARE LOSING THE SAVING BY THOUSANDS .THE PROBLEM IS DOUBLED WITH GROWING PRICES IN INDIA
RE:WHAT ABOUT WE NRIs SENDING MONEY TO INDIA
by MOHAMMED raj on Aug 06, 2007 02:38 PM Permalink
I have been in norway and come just now and I can understand your problem, I agree but can assess just as badluck, and nothing else, There are jobs being created here in INDIA, the salaries are also good now, And I think it is better to work in INDIA NOW friend. The salaries in hyderabad my home city is just skyrocketing, and I am seeing for opportunities here only. It would be fair if you come to india and work. Bes t of luck.From a friend
The Industry has to improve the quality of work, quality of product, quality of service, quality of package and presentation.
Then the Indian Export will have Better Image.
India is the Better Country, Indians are Better People and their Individual Outputs are Better... still our products,packaging and presentation are not Better.
Please improve there and World will accept everything at any cost!!
American Products, European Products, Japanese Products are still supreior than Asian Products.
Considering Indian Packaging and presentation, Singapore, Malaysia, Indonesia, Thailand & Chainese Packaging and Presentation are Far Better.
Let us look at India's growth; not Individual's Growth!!
Including you and me, People are ready to pay more for the Quality!!
Let us command on our Product Quality, that will lead to a Better Demand!!
This is a dangerous scenario. What is the Finance minister doing nowadays. Countries like India will progress only with Exports. No douth the Dollar was over valued & this is a corection but we have to be careful that or exports are not badly hit. Else we shall have a multiplier effect later wherein the reverse will happen extremely badly
RE:Stronger rupee: End of India's export boom?
by prajwala tatte on Aug 06, 2007 02:50 PM Permalink
Exporters want to rob the farmers and become rich. When rupee becomes stronger farmers get good price for their produce and their purchasing power also increase. I suggest exporters to search and expand market within the country rather than looking towards west for trade.
RE:Stronger rupee: End of India's export boom?
by Priya Jay on Aug 07, 2007 01:57 AM Permalink
Well said. Rupee becoming stronger and Good qualityb products at good prices available within the country is best for India.
