India’s rupee, which once traded for 47 or 48 to the U.S. dollar, has been rising rapidly. It now stands at 40 to the U.S. dollar. As a result, the revenues of India’s exporters — which include IT firms such as Infosys, Wipro and TCS — have been affected and earnings have been squeezed. At the same time, though, consumers are benefiting from cheaper imports. How should India manage this tradeoff? Wharton finance professor Jeremy Siegel discussed these issues and more — including the crisis involving sub-prime housing loans in the U.S. and the booming Chinese economy — with India Knowledge at Wharton.
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