- Now export oriented units can have reasons to smile, provided their confirmed orders were of an earlier date which would mean in rupee terms their money realisation would be much more.
- Industries which have invested overseas would also have reasons to smile because in rupee terms their assets would have gone up and their liabilities would have come down.
- Foreign tourists looking for better options including cheap destinations can find some places in India now attractive. From inbound tourism view point this could be a better news.
- Locals would find it attractive to tour within the country rather than going abroad.
- People from event management field based overseas would now find India as an attractive place for holding different kinds of seminars, conferences and the like due to fall in rupee value.
- Industries wanting to enter into export business would now find the situation more suited as a result of the drop in value of the rupee which would enable them to offer their best goods and services at competitive rates.
- Overseas investors would now find the situation for investment attractive.
Demerits of the fall in rupee value
- Students wanting to go abroad for further studies would now find it difficult to raise money because they may have to shell out more money equivalent to the corresponding foreign exchange of the respective country they may be interested in
- Imports to become costlier
- Indians wanting to go abroad as tourists would now find the situation not so encourging as they have to pay more for everything connected with their tour due to drop in value of rupee.
- Holding of seminars, conferences abroad would now become less attractive from monetary terms.
Economic policies which would be popular and benefical for every section of the population should be aimed at in future by the concerned authorities including RBI's new Governor. With the help of such policies, the coutry will have a clearcut direction to go into and that too without disappointing any section of the society.
The economic policies which favours "rob Peter to pay Paul" or "putting one's hat on the head of another" (in Hindi, iski topi uske sar par) should be discouraged in the future. Sound economic policies which would be beneficial to all sections of the population should be pursued in the future.
It is also relevant to note here that China had pursued economic policy in a manner whereby their currency had remained strong without much of a change in its value. This has facilitated importers and exporters to take a long term view point. Perhaps, lessons can be learnt.
Hope the above favours consideration at the right quarters.