Mr Murthy its you who is the armchair economist because of people like you, India will always remain a third world country exporting third rate products. So, you need a walk in the park and need to smell the roses.
By the way India is also, exporting Mercedes manufactured in India. Texas Instruments say that their best research job is done in India.So, who says hi tech stuff is not possible in India? Pessimists like you would ensure that India ends up worse than African countries.
So, wake up from your deep slumber, because Rbi itself has ensure the appreciation just to counter inflation.:) Unless, you doubt the effectiveness of RBI's highly knowledgeable team (maybe you think that you are Alan Greenspan), but who cares, wake up the world is changing.
