Opinion | An emerging economy’s exchange rate policy is not always about economics. Here’s why

In his latest article for Mint, Dr. Niranjan Rajadhyaksha, Executive Director at Artha Global, explores why exchange-rate policy in emerging economies cannot be understood through economics alone. Drawing on India’s recent experience and global research, he examines how central banks balance market fundamentals, institutional objectives, and political realities in managing currency movements. The article also reflects on the evolving role of the Reserve Bank of India, the importance of central bank independence, and why exchange rates should be viewed as prices that adjust to economic conditions rather than as measures of national strength. Read more here

Exchange-rate policy is shaped by more than economic fundamentals. In his latest Mint article, Dr. Niranjan Rajadhyaksha examines how politics, institutions, and market dynamics influence currency management in emerging economies.

Opinion | Stress on the external front must not obscure domestic challenges

India’s household economy tells a different story than headline growth. Stagnant real incomes are reshaping how families save, borrow, spend, and work—revealing domestic challenges that deserve as much attention as external risks.

Opinion | Chinese FDI is welcome but stay vigilant on innovation spillbacks

India needs foreign capital, but new evidence suggests Chinese FDI may also facilitate technology transfer back to parent firms. As investment rules ease, policymakers face the challenge of balancing growth with strategic caution.

Opinion | Gold buying for investment purposes also makes it easier to reduce imports of actual bullion

India’s rising gold imports are increasingly driven by investment demand rather than traditional consumption. Niranjan Rajadhyaksha explores what this means for the rupee, foreign exchange reserves, and economic policy.