Economics in India

nathanielkiddnathanielkidd on 1225111978|%B %d

The economy may seem bleak in the US, but take heart. Things are worse in India. Last week, the US markets closed about five percent lower. In India, markets lost fifteen percent.

For Indians, this is deeply troubling. Newspaper headlines and television spokespeople are choking back panic. Even the festive spirit surrounding Diwail is somewhat muted by worries amongst the wealthy about the direction of the economy.

For me, it is just confusing. Sure, I’m not an economist, but some things ought to follow the laws of common sense. I can grasp the reasons for difficulties in the American economy, but I have little clue as to why the Indian markets are suffering so badly. Indian banks had no direct exposure to the “troubled assets” everyone is talking about, and despite the crisis, for India, a very rapidly developing country, all of these financial woes are not likely to mean “recession” so much as slowed growth. Yet still, they are suffering far more than Western countries, where the figures look far less processing.

At any rate, the turmoil has been good for us as travelers. Our money is sitting in dollars in American banks. For a variety of reasons, the exchange rate is climbing in favor of the dollar, and doesn’t yet show signs of stopping. When we got here, a dollar was worth about forty-five rupees—today it’s worth closer to fifty, about ten percent higher. In other words, our travel savings is suddenly worth roughly two thousand dollars more than we thought when we arrived. Provided, of course, that the winds remain favorable for us.

So it turns out now is a great time to be in India. Feel free to come and visit us!

Traveling by the invitation and the inspiration of the Holy Spirit is never a poor investment. The experiences we are accumulating are treasures in heaven: things that neither moth, nor rust, nor no economic downturn can take away from us. And indeed, knowing how to trust God is absolutely vital in whatever situation the world encounters.

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