What if Rupee equal to Dollar for growing economy like India?As a general views on the valuation of Rupee against dollar, all people say that Rupee should be equal to the Dollar. But here let us discuss that should it be? Should the Rupee equal to the Dollar? What if it happens for growing economy like India?
If we think practically for growing economy like India what are the advantages and what are the problems we have to face for this kind of currency valuation. I have listed some of the points for the same as follow.
Advantage of Rupee equal to Dollar
1. Imports of India will be cheaper. That means foreign products that we are using like i phone, luxury cars, defense equipments will be cheaper for us to buy. Like 600 Dollar phone will be available us at only rupee 600.
Problem of Rupee equal to Dollar
1. Exports from India will be costly for other countries that mean we will be not able to cover foreign market for our products.
2. Employment will be costly in India. Foreign companies are coming here because of cheap employment available in India. They will not willing to pay amount equal to 50000 Dollar for any simple management job.
Above are the just two simple point that first comes in my mind to start the discussion for the topic. Let us discuss other advantages and problems of the same. I advice the member that make your points keeping in mind current scenario of India as developing economy.