RE:RE:RE:RE:RE:RE:RE:RE:IIFL estimates until 2021Rupee devaluation is due to the following:
a) US rates going up
b) Modi is loosing.........karnataka( province) elections were kind of a precursor for the elections for next year and modi was defeated. again there was civic elections in the same province - again modi was defeated. The opposition learnt the trick - join hands and modi is defeated easily. 2019 elections - modi will loose power and the currecny market is factoring that in....I expect rupee to hit 80 by 2019 elections.
c) Demonitization was a disaster - no media will tell you what happened on the ground. People really suffered - small business were hit so badly that modi's own supporters wished he is no longer in power. Everything came to a halt- remember in India about 50 to 70% transactions happen via cash and people were forced to stand in line to draw their own cash.
You guessed it right i am Indian origin with parents back in India - I have first hand knowledge of c).
Growth in investments will be far higher than devaluation of rupee Prem knows the game very well. short term does not look that good but 3 to 5 yrs we will be fine.
Cheers!!!!