Everyone fails to understand - 1. If Rupee keeps on rising there are going to be massive lay offs. Whether people like it or not but most of the Indian junta is in IT industry. Already big companies like IBM, Microsoft, Accenture are looking at setting up offices in alternative countries. 2. Because of all these years of export boom, the overall housing market and in general prices have gone up. The average household credit has gone up. What if you lose your job and you are not able to pay the mortgage and your creditors. 3. The article mentions that this is time to plan your trip. But if you are without a job how are you going to pay for the trip. 4. The layoffs in export industry is going to have spiraling effect. Once export people start losing jobs, most of the other jobs are gone... 5. I work with clients in USA and already clients have started looking at other options including some african countries. They don't care whether they cannot speak english. They can always hire a manager in US who can speak both the languages. Don't be under the assumption that all the western world doesn't have an alternative because India is English speaking country.
At the end, I think this is just a temporary phase to control the pricing in India. India cannot compete with higher rupee rate in global economy.
