Devaluation of Rupee an opportunity for NRI to invest in India
The Devaluation of rupee has amazed most of Indians. So, some Indians are too worried about the soaring prices of important goods like gold, diesel and petrol, others are worried about the RBI restriction against taking money outside India.
This may be good news for Indians living in the USA. This year, the value of rupee against dollar has gone down by approximately 20%.
So, for the Indians who have dollars in their bank account, especially NRIs, it is definitely a great opportunity. In simple words, things will cost 20% less than before to NRIs.
For instance, if a house in India was offered to be sold for Rs 2 crore in the beginning of 2013, it will cost 20% less to an NRI buyer now due to decrease in rupee value. However, here the condition is that the seller should be ready to seller it at the same price.
In the same way, if you are an NRI and want to purchase equities, then the opportunity is even more attractive. As a matter of fact, CNX Nifty, which is the Indian equities benchmark, has dropped. Nifty has dropped by 9% from January 2013 until now.
Therefore, being an NRI, you can purchase Indian equities relatively 29% cheaper. So, this is the right time for to make investment in India.
Australia To Stop Issuance Of Permanent Residency To Applicants That Can’t Prove Their Stay in Regional Australia