Moreover, India’s tight capital controls, management of the rupee and, importantly, a smaller share of global exports run counter to aspirations of making it an international currency.
Perhaps newspapers could dedicate a separate column to report daily road accidents and fatalities, similar to how death tolls were reported during the COVID-19 pandemic.
With the US-India trade deal yet to get done, rupee depreciation may be helping to mitigate India’s loss of competitiveness. The other problem is extreme despondence among overseas equity investors.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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