The rupee was pegged to a basket of currencies, the government was close to defaulting, and there was only enough foreign reserves to buy 3 weeks worth of imports. India liberalized its economic system.
under the Liberal Remittance Scheme (LRS), loosened up their Foreign Exchange Management Act (FEMA) regulations. It is now legal to invest up to $250,000 every year internationally, barring a few restrictions.
In 2009, the dollar was roughly equal to about ₹47. If you invested ₹4126 into dollars, you would have $87.80. This was the cost of an Amazon share. Today, the USD is equivalent to ₹68.99. And today, that Amazon share is worth $1,985.63. This would convert to ₹1.36 lakhs, at a return of 148% year over year. Every company is not Amazon, but there are enough high growth companies to grow our investments.
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