Guynextdoor2
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India scrambles to stabilize falling rupee as crisis chatter roils markets - The Washington Post
India scrambles to stabilize falling rupee as crisis chatter roils markets
NEW DELHI Indians returning from abroad bring nearly 3,000 flat screen televisions into the country a day, turning airport luggage belts into revolving electronics displays. A stiff new customs duty aims to sink that popular trade as officials scramble to halt a dizzying plunge in the rupee.
In a small way, the soon to be squelched trade in flat screen TVs illustrates Indias business and economic challenges. Despite the massive size of its market and high import tariffs, local companies have not become significant players in the consumer electronics manufacturing industry.
The growth of past years shows what we are capable of, he said.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
So what's your problem maggot? It's our currency- we'll make it fall or rise as we please. Stick to your own country.
Or India could have a really courageous leader, who will push through politically unpopular but necessary structural reforms in India's economy.
Then India could be running on surpluses instead of deficits. And they won't have to worry about constantly having to cover their deficits every month.
oh PLEASE. We have done that in the past the right way. No 'reform' is truly a reform till it has consensus. Plus, several tricky issues- especially land acquisition and labor laws- really need that consensus to work. You guys did I with executive fiat- look at the kind of consequences you have to deal with.