Entrepreneur and Biz News+ founder Jayant Mundhra has issued a stark warning about India’s economic future, predicting that the rupee could weaken to Rs 150 against the US dollar if the country fails to reduce its dependence on imports and foreign technology. Speaking in a podcast conversation with Raj Shamani, Mundhra said India is increasingly becoming a “consumer economy” instead of building domestic manufacturing and innovation capabilities.
According to Mundhra, the falling demand for the rupee is directly linked to India importing large quantities of products, technology, energy, and even digital services from abroad. He argued that every dollar spent on foreign platforms and imports weakens the Indian currency over time. “At the rate we are going, the rupee touching Rs 150 per dollar will not be shocking,” he said during the discussion.
