India’s decision to adopt free market currency puts enormous pressure on China
Anita Zaveri
Mar. 19, 2006

India has finally decided under pressure from Western countries what it should have done long time back – free market currency. The lack of artificial control over currency will force the Indian businesses compete with the rest of the world on fair play ground. This move is putting enormous pressure of Beijing and exposes Chinese real intension of talking and taking advantage free markets in the West and really controlling everything in China with iron fist.

According to media reports, speaking in Mumbai at the weekend, Manmohan Singh, prime minister, said India’s economic position internally and externally had become “far more comfortable” and that he had asked the finance ministry and central bank to draw up a plan for reform.

“Given the changes that have taken place over the past two decades, there is merit in moving towards fuller capital account convertibility within a transparent framework,” he told investors at the Asia Society.

India’s decision to adopt free market currency puts enormous pressure on China
Anita Zaveri
This move is putting enormous pressure of Beijing and exposes Chinese real intension of talking and taking advantage free markets in the West and really controlling everything in China with iron fist.
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