Normally a country is supposed to be happy when its currency is growing stronger, but India has always proved itself to be exception so how can it miss this chance. The Indian economy, which is heavily based on agriculture, will be facing problems because of weakening dollar, especially the export based industries.

Textile Industry may have to cut 2 million jobs in the near future. IT industry has already started tightening the belt and started looking for different business module to survive the wave-of-meltdown.

But still the impact of hit could be mitigated if the Indian government can for once forget about personal greed and can think about the people. Today India in itself has emerged as a big market, and is poised to be become far bigger if the real people are given some more powers. The time taken to open any business is more than 180 days, while on the other hand any other developed nation merely asks, on average, for a week. The red-tapeism is still rampant and corruption a part of life. If government can just improve the infrastructure and take a market-friendly attitude, the companies themselves will manage to do a lot.
Of course in education sector only government can do anything positive, but before that it really needs to bring paradigm change in primary education which is presently going only on paper. Everybody, from students to teachers to school, exists only on paper. The quality of education is not improving with the quantity.
If R&D as an industry don’t develop in India then we may have to remain back office for always and as back office would be the first ones to get fired in case of any eventualities, which is not so eventual considering the present scenario.

India as a nation needs to understand that one industry can’t keep on supporting the whole economy and until we don’t improve the
other industries we are doomed.

It is not as difficult as it sounds but can become far more if nothing is done soon.