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What is the likely effect of …

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What is the likely effect of Make in India scheme on foreign exchange rate?

Posted by Sakshi Jain 7 years, 11 months ago

CBSE > Class 12 > Economics

2 answers

Sakshi Jain 7 years, 11 months ago

Thanku

Vibha Thapar 7 years, 11 months ago

The Make in India scheme launched by the prime minister is the import substitution scheme. The goods which were imported earlier from foreign markets were now to be produced in our own economy. Due to the launching of this scheme, there would be a significant cut down in imports. A fall in the amount of imports would cause Appreciation of domestic currency. The appreciation of domestic currency means increase in the value of dokestic currency in terms of foreign currency. Due to this appreciation, the current foreign exchange will tend to fall. Make in India sheme---》Less imports ---》 Appreciation of domestic currency---》 fall in foreign exchange rate.

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