I am not an Economist, but elementary common sense says that a strong currency should always be welcomed by the citizens!
Let us see how we can benefit in this scenario
1)We should invite FDI or form JV's in all core sectors or allow foreign companies to invest in core sectors , which would be very attractive as the entry cost is very much lowered as normally most of these companies import most of the plant & machinery. This would also give an incentive to invest in Core Sectors like Power,Infrastructure,Healthcare and may be even Defense.
2)We should encourage Indian Companies to invest /acquire foreign companies. Effectively they would be doing it cheap(Infosys is already doing it)
3)Government should allow free convertibility of Rupee to allow individuals/HNIs to invest in foreign businesses/assets freely
A strong rupee always increases inward looking and free and cheap availability of Goods and Services as far the country is concerned , which is good for masses,inflation and country in the long run
