India is in the midst of change. One of the biggest successes India has had, compared to other nations, is that the stock markets have risen and the currency has been stable. This has less to do with Prime Minister Narendra Modi and more to do with its central bank governor Raghuram Rajan, who, I think, is the best central banker in the world.
Most economists are of the view that India should lower interest rates, but I disagree. Rajan’s priority should be currency stability. Once India can prove that the country has a strong rupee policy, it will automatically boost production and investments.
The rupee had weakened in the previous years, which made it easy for exporters to make money. But with a strong rupee, companies will become more productive.
VIA Forbes India
