New Delhi, May 21 -- It will definitely be wishful thinking to expect an export windfall with the Indian Rupee at its most undervalued status in nearly 12 years.
And when I watched Prime Minister Narendra Modi hand a packet of "Melody" toffees to Italian PM Giorgia Meloni in Rome, I couldn't help but smile at the masterclass in feel-good "Melodi" diplomacy. It is incredibly tempting to look at such sweet, globally televised optics and envision a golden era of soaring demand for Indian products abroad.
However away from the flashlights, I see our country's export economy grappling with a far harsher reality.
By the cold arithmetic of exchange rates, I would expect our exporters to be celebrating right now. The rupee's Real Effective Excha...