Your areticle is indeed a good one, however, would have appreciated it even more if you would have been a bit more impartial towards the interests of the exporters & the software units.
Why bother for the fortunes of Premji, Murthy, Tata ? When they already have enough?
What is it (amongst material things) that THEY cant buy after their reduced earnings, what they can buy now? There is nothing !!!
Again looking at it positively, even for these software bigwigs, stronger rupee gives the Murthys, Tatas & Premjis of India a more better opportunity to outrightly buy small yet profitable software companies across the world. Thereby again increasing their revenues as well as increasing the job opportunities for Indian software professionals in such ventures.
Strong Currency = Lower Interest Rates Lower Interest Rates = Increased Industrial Development Increased Industrial Development = Increase in job opportunities Reduced inflation = Reduced Prices Reduced Prices = Better Infrastructure Better Infrastructure = Better Standard of Living.
So, Be happy dude coz the Rupee is appreciating. Be happy for the motherland's progress !!!
RE:Why worry when the masses are going to benefit from reduced inflation?
by kalyan sangam on Jul 25, 2007 10:33 AM Permalink
It is very good indication of a growing & strong economy! Three cheers to India - "Mera Bharat Mahaan". While looking at the drawbacks for the export companies, we should also look at the benefits that the import oriented units! And now, we seem to be approaching a phase where there is a lot more market for "swadeshi" goods, rather than "videshi maal". Great going!
RE:Why worry when the masses are going to benefit from reduced inflation?
by Reviewer on Jul 25, 2007 10:36 AM Permalink
Very good..... but those equation is not realistic, you did not put this question from the politicians into the equation "What will i get, tambora?"
RE:Why worry when the masses are going to benefit from reduced inflation?
by sam on Jul 25, 2007 10:47 AM Permalink
Its sad to see that most Indians are foolish by being jingoistic about a strong home currency. The rupee is getting stronger not just due to the rosy picture painted about India but due to a concerted effort by the US to keep the dollar weak so that its exports can rise. This has helped US to bring its unemployment levels to all time record lows. The rupee strength is also due to currency arbitrageurs (ECB borrowers) who are borrowing in Japan & a few other countries at less than 1% & deploying those funds in our equity markets for double digit returns. They are also doubly benefited by the currency appreciation. Indians dont realize that due to rupee appreciation, exports become uncompetitive & exports will end up losing orders especially the manufacturing sectors unlike the IT sector which can shift some of its developing work overseas. When the industries in the export sector close down there will be a huge loss of jobs & the task of regaining the lost export orders is difficult. Once these corporates which rely on exports start making lower profits especially the ones in the Sensex & A group stocks, the whole India story would evaporate. The rupee rise is mainly due to a few rich industrialists who are making money by borrowing huge funds abroad through ECBs & playing in the Indian stock markets at the cost of the foolish common man who is taken for a ride by the India story spun by these rich industrialists with the help of the media.
The sad thing is that whether it is fish or cashew, the local community where it is produced is unable to buy as exporting it will fetch a better ruppee price.
The indian should eat the best and export left over for the white man to eat
RE:RBI STOP INTERFERING, LET MARKETS DETERMING PRICE
by raju m kharatkar on Jul 25, 2007 10:48 AM Permalink
Wait for sometime, that time will also come.
RE:RBI STOP INTERFERING, LET MARKETS DETERMING PRICE
by Moni RS on Jul 25, 2007 10:36 AM Permalink
Good one, appreciate it. But the question is how many in india think in these lines !
I think its the right time to ditch dollar as the world currency. Why should we suffer for a weak dollar. I feel the south East Asians should sit together and work out a new common currency. Given all most all of them now survive on outsourcing and over the past few years all their economy doing well, everyone will benefit. And we donot need to bother about the fall in dollar! Sell everyting in the new currency. We need to stand up and change our budiness. Why should we share America's losses?
Rediff is unnecessarily publishing such papers. It is not IT which makes India proud. IT people are cheap labours for US and Europe.
We should not worry about them. Just see what extra earnings have made these IT and BPO people mad. They dont have ethics, they dont have family values, they dont care for their parents, they are like americans thinking of themselves only.
Carefully read the literatures of so called succesful couple. They are all self centric, they want people to do all the things. These so called wise peoples are going to ruin the iNdia. These are new RAKSHAS in the form of american mentality.
We must be ready to understand and show them their justice.
RE:Why to worry for IT
by Raaj King on Jul 25, 2007 10:25 AM Permalink
Dear Dreat Indian,
I agree with your viewpoint about Rediff unnecessarily publishing such papers. However, I disagree in your view point about the moral standards of the IT people.
RE:Why to worry for IT
by binaya patnaik on Jul 25, 2007 10:48 AM Permalink
Hello Sir..who said you that IT people don't have ethics...They don't care their parents..Are you jealous as they earn more??
RE:Why to worry for IT
by indranil mitra on Jul 25, 2007 10:28 AM Permalink
The irony is that you can post this message only because of IT people. If you dont work in IT (which i think u dont), why do u make such foolish comments? Everybody is earning their own living. Why belittle it?? R u doing really something which benefits mankind?? Pls let us know.
i agree with most of parts but you were bit more harsh. :)
anyway, the local people of the contry are not affected directly. Infact the rise of ruppee has increased the buying power to buy oil currectly at $77 per barrel that is why we havent see any rise in petrol price for quite sometime.
The only people who are affected are the exporters and working with the exporting organisation, like mango exporters , infosys, etc.
These organisation rely on export as main source of business. Why do they export all these stuff?? say for example I have the capacity to buy king praws at 500Rs but the good ones are not available in the market, you have to go to USA to buy them.
So rise in rupee value is in a way a good thing, all those stuff that were exported which are no more profitable will be directed to local markets.
RE:@Vijay Baskar.
by page on Jul 25, 2007 10:22 AM Permalink
let us eat the good alphonsa and king prawn, and export the remaining junk to the yankiees.
Government give releif to export firms immediately which is loosing their market due to strong rupees ....when they are enjoying the profits and indian public were in soup due to inflation when rupee is weaker where government is ? our Industrialist when enjoying profits they are reacher ..and when loosing their buisness they divert loss to the government acount and becoming reacher ......government is enjoying the donation from the public pocket money ???
Keeping the rupee weak is imposing a huge and invisible tax on the nation. Let the govt be efficient in its transactions with the citizens,improve its own working and let it cut down on unnecessary taxes and service taxes and the export prices will also come down. Clearing a ship at the docks in india takes 4-6 days, while it takes 4 hrs in singapore. The singapore rate is 2 singapore dollars to a US dollar, how come they are able to export more and are a more prosperous nation. We are just raising a hue and cry about the rising rupee with fraud economists like chiddu at the top. They just love to tax and make everyone's life a misery.
RE:Weak rupee is an invisible tax
by sandeep nag on Jul 25, 2007 10:58 AM Permalink
Good thought ........ Chiddu is only an ordinary politician ....... like others.
RE:Weak rupee is an invisible tax
by Rengarajan on Jul 25, 2007 10:19 AM Permalink
You hit the nail on its head. Brilliant answers to the above artilce. People like chiddu should be packed off. He's not fit for the finance ministry.
RE:RE:points to ponder
by Reviewer on Jul 25, 2007 10:21 AM Permalink
yes you are correct, increasing the working hours is very stupid, this just proves that the IT companies dont treat an engineer as an engineer rather they treat them as labours.
RE:points to ponder
by beerappa Gowda on Jul 25, 2007 12:14 PM Permalink
let them work extra hours like any other manuacturing industry workers / empolyees who works on saturdays too
you can write what ever you want about politician, transportation, envirnment but NEVER EVER SAY ANY THING ABOUT INDIA AS A COUNTRY. It is our mother land and we don't like some body abusing our mother. So Shut up
Be Indians all we should be happier what is going on in Indian economy.For the sake of a few area impacted, we shouldn't avoid to improve our poverty line.Would appreciate if along with the currency inflation( economy) all other social develpements and system improvements are also considered simultaneousely.The results would many NRI working outside must say Good Bye Overseas!! Manoj Kalita-Abu Dhabi,UAE
RE:Good Sign!!
by Sangi on Jul 25, 2007 10:19 AM Permalink
Hi Manoj, Well noted!! Its true that many Indians are thinking to go back , already many are in India from verseas too. Let our people work for our country. What resource Japan has? Nothign. Still they are one of the major ecnomic country in this world. If we indian work hard and mentain our degnity then Mr. Kalams 2020 will fulfilled 2015 itself. VendheMAthrum!! Jai Hind!!!
