As new government will be formed after 4th June 2024, it should give upper steps to the Indian economy. It is very necessary to step towards strengthening Indian Rupee.
Why Indian Rupee fell 28% in 10 years? over the last decade the value of Rupee fell from 60 to 83.31. This represents the declining trend of 27.8% over this period. Tapper tantrums- As market reacts sharply to the US fed decisions to tapper off its liquidity support to markets introduced during the financial crisis.
The country’s foreign exchange reserves have increased from $304 billion to $645 billion which is 112% and an annualized increase of 12%. This increase is due to deliberate efforts by central bank to build up reserves.
US dollar has appreciated against all major currencies and US federal Reserve began hiking rates, funds have started moving to US assets, specially govt. bonds.
Every Indian should start thinking about this issue as it is very necessary for strengthening the position of our country across the world. We have to use most of the Indian products replacing the imported products. Indian manufacturing industry is growing well but again it needs improvement in some sectors like semiconductors, solar panels, electronic products and technology. we should have to be self dependent in all to achieve the worlds no. 1 position.