Here I got an e-mail....which says that buying poducts of non-Indian companies devalue the rupee!!!
I don't really know the authenticity/relevance of the information...but yes, it is for sure that Indian customers are encouraging the non-Indian brands more than the Indian brands (Ofcourse because of the quality aspect).
The author argues that the Indian rupee is devalued by an amount of Rs.5 as compared to the Canadian dollar, in just 5 months....and that this devaluation of the currency effects the price hike in the petroleum products in the country!!!!...
and that the rupee devaluation is caused because of the Indian economy which is slipping down...
One of the reasons for this 'slipping pride' of the Indian economy is that, more than Rs. 30,000 crores(per year) are being siphoned out of the country as people buy the products made by the non-Indian companies...
I'm really surprised about the above set of statements and really not in a state to comment on this issue!
Anyway, the mail had an impact on me....which made me buy a "Medimix" soap (today) and not "Lux" (which was my choice for more than 12 months)
Well.....If we are going to give preference to nationality and not the quality of the product....
then ...one statement justifies everything-
"It happens only in India".....Great India
"JaiBharat"
1 comment:
adithya,
i could not resist answering your log entry. while the problem of devaluation of the rupee is a basic macroeconomics concept, it is this problem that opened up the economy in 1991. The economy was in a crisis where we had only 1 billion dollars of foreign exchange as reserves. (compare that to the current reserves.)
now when we buy things from non-indian companies, i think you might be suggesting the concept of import of goods. if import of goods is more than export of goods, then the imbalance in trade makes it difficult for any country to pay for the excess value of the imported. so to nulify this deficit rupee gets devalued against that foreign currency. meaning, future imports become more expensive and exports become more attractive.
don't you just love economics?
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