Recently everybody is crying that Rupee (INR) is getting stronger and that is hurting not only the exporters but Indian Industries that compete against imported goods. But is it really the case?
If you look at the graph of INR vs Euro (or any other major international currency) for the past 2 years:
you will notice that Indian Currency has actually depreciated by a healthy 3% over the past 2 years. The recent rumors of Rupee weakening is not due to strength of Indian economy pushing up the prices but the weakness of the USD.
If the USA does not control its balance of trade (importing more than they can export) soon, then the dollar will fall further and further. It does not make sense for India to commit the same mistakes and artificially weaken our economy.