It seems to me that this moaning and groaning about the rise of the rupee is from a single point of view - that of the Tech companaies. I have not read a word about the impact on the major dollar outgo of the country - oil. Surely a stronger rupee means we pay less for oil ( 70% of the national requirement is imported, and this is the biggest single expense, as mentioned). Surely that has a cascading effect on all prices, and on the national economy as whole. Why hasn't anyone talked about this? Or is IT all that matters today in India?
RE:Biased viewpoint
by bharat on Jul 25, 2007 08:23 PM Permalink
IT ! really matter indian ecconomy. we were buying Oils since India got Indipendance. It never effected our economy's growth ungrowth. When the IT sector booms Indian ecconomy starts growing. As the topic above says is it really indian rupee appreciate. Only |Dollar depreciated to all other currencies. Indian rupee value is same as last year against Pount Sterling or Euro or any other currency. so we can say this way week dollar will badly effect our exporting. result many job cut and companies shut downs.
RE:Biased viewpoint
by Rapid Snail on Jul 25, 2007 08:52 PM Permalink
It is not just IT. Every exporter in the country is affected - and that includes farmers of cash-crops and spices, fishery based industries, food-processing industry and plenty of others.
Also just because we get cheap petrol doesn't mean our economy will grow faster.
RE:RE:Biased viewpoint
by the assassin on Jul 25, 2007 08:47 PM Permalink
hats off to you..you pointed out really an important aspect of rupee appreciaton..
