Mark Mobius says India can reap benefits of weaker rupee

Mumbai: Mark Mobius, founding partner of Mobius Capital Partners, said India could reap the benefits of a weaker rupee

“With the rupee (being) weaker, exports become more competitive,” Mobius said at the Morningstar Investor Conference.

Mark Mobius says India can reap benefits of weaker rupee

“Also, I believe that it is about time the government takes advantage of the Chinese trade war,” he said, adding the approval process for manufacturing in India needed to be fast-paced.

The rupee has depreciated 13.44% so far this year and currently trades at 73.79 per US dollar.

A falling rupee, together with boiling oil prices, has been a headache for the government because it affects macro-economic parameters a few months ahead of general elections.

Mobius was also in India to seek an approval from the Securities and Exchange Board of India for his firm to invest in the Indian equity markets.

source: livemint


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