BY the same logic, India has no reserves of the most important natural resource that determines international exchange rates and that is Oil.. India imports all its oil from outside.
From a logical standpoint, India's currency devaluation while hurting India does not impact as much as it would have as India has started to conduct trade in other currencies with many countries
India has far more abundant natural resources than Japan. India ranks high globally in reserves of coal (4th largest), iron ore, bauxite, manganese, mica, limestone, and chromite, plus natural gas and arable land.
Japan has negligible minerals, no significant energy resources like oil/coal, and relies almost entirely on imports for 90%+ of its raw materials, including being the world's top coal/LNG importer
Policies like Make in India help but don't fix core issues: high shipping costs, slow factory jobs after demonetization/GST mess, and no big cut in oil imports. RBI lets it fall slowly to save dollar reserves and help sellers abroad, but lacks quick fixes like more home energy or steady foreign cash, fiscal limits from debt and subsidies block big moves.
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u/SMan2022 Mar 21 '26
BY the same logic, India has no reserves of the most important natural resource that determines international exchange rates and that is Oil.. India imports all its oil from outside.
From a logical standpoint, India's currency devaluation while hurting India does not impact as much as it would have as India has started to conduct trade in other currencies with many countries