Rise in rupee is not that India is going to be a economic giant. Its good for some company and bad for others.Government should allow to increase the Rupee or decrease its value depends on how its going to affect the Indian economic in future. Japan the 2nd largest economic has $1 = 122Yen. But still they are economic strong. Since each and every product they export their economic become string with fall in yen value. So Rupee rise is good or bad depends on our export and import ratio.
