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Indian Rupee: Hidden Power Behind Regional Currency

11 September 01:57 PM

More analysts start focusing on India’s economic achievements amid global economic instability and uncertainty. While the eurozone crisis keeps devastating European economies and capital markets grow volatile and less predictable, India (along with some other emerging markets) may well turn into a real power due to its immense economic potential.

First of all, India is number 20 in terms of GDP while the country’s purchasing power does impress: some analysts say it is around $5 trillion.

However, some experts say that despite having a rapidly growing economy, India is still under the influence of several factors pressing its national currency, the Indian Rupee. These factors include poor infrastructure, dependence on oil import, considerable social and economic inequality.

Nevertheless, more foreign investors are betting on the Indian Rupee.

Will India and its currency be able to consolidate their position in the world? Let’s ask Masterforex-V Academy and HY Markets …

India - A Leading Emerging Market

According to HY Markets (Best Institutional Broker 2012, according to Masterforex-V Academy’s rating of Fore brokers), the rapid growth of the Indian economy along with wider trade relations and some other factors contribute to the increasing role of the Indian Rupee in the domestic and foreign markets.

Since the 1990s, the average daily turnover in the domestic Indian market has increased from $1,5–2 bn up to $35-40 bn.

India’s currency liberalization is attended by successful reforms in the banking sector and higher financial stability, including lower inflation. The Indian government is planning to gain full control over the national currency in 2013.

In the meantime, India’s gold and currency reserves keep growing. As of March 26^th, the reserves were estimated at $277 bn (+10% y/y).

Since 1991, foreign investors have directly invested over $127 bn in India. At the same time, India has been actively investing in foreign economies.

Indian investors are mainly interested in the following economic sectors:

· Electronics

· Chemical and pharmaceutical industries

· Cement production

· Telecommunication and software development

· Mining, nonferrous metallurgy and power industry

· Non-financial services and trade

India Towards 2020

Asia is rapidly catching up with the USA and other developed economies in terms of hi-tech and innovation technologies.

Special attention should be paid to India Vision 2020, a plan aimed at transforming the nation into a developed country. The focus is on 5 areas:

· Agriculture and food processing

· Infrastructure with reliable electric power

· Education and Healthcare

· Information and Communication Technology

· Critical technologies and strategic industries

Indian Rupee: Market Outlook

According to Masterforex-V Academy and HY Markets, the Indian Rupee has an immense potential. Moreover, HY Markets gives its clients an opportunity to trade the Indian currency. In terms of trading volume, the Indian Rupee is among the 15 most traded currencies.

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The overall prospects for the Indian currency look favorable. However, India will need some changes to consolidate its position in the region and around the globe:

· To support and stimulate the GDP growth rate

· To eliminate the deficit of energy sources

· To fight corruption and bureaucracy

Solving these and some other problems may help India to make rival to the USA and European economies.

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