You are right in way. However, considering the overall scenario, the people affected by rising rupee are not only IT companies (as assumed by many on this forum) but low class workers working in production units across India. And since they cannot export now, they need to fire these people. A rising rupee will be good when India is able to produce items/products/services which are highly advanced so that no other country is able to provide them. Then buyers have no choice but to buy from us even though the prices are higher. US/Europe are able to have high currency value because they can produce high-tech products which countries like ours have to buy from them, irrespective of the price. India's economy still requires to develop at the low end first before we can move towards highly specialised products. And that is why rising rupee may not be so beneficial, at least for the next 5-7 years. On the other hand, a short stint of rising rupee will not hurt much, considering we use this opportunity to buy foreign products at this time.
