International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Call for Papers | Fully Refereed | Open Access | Double Blind Peer Reviewed

ISSN: 2319-7064


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Analysis Study Research Paper | Financial Management | India | Volume 13 Issue 4, April 2024 | Rating: 6.1 / 10


How Internalisation of Rupee Helps to Growth of Indian Economy

Prince Kumar Prajapati | Dr. Amit Kumar Sinha


Abstract: The internationalization of the Indian Rupee (INR) presents a pivotal opportunity for India's economic growth and global financial integration. This paper synthesizes key findings from existing literature and policy recommendations to elucidate the implications of rupee internationalization on India's economy. Through a comprehensive analysis, it is evident that the INR's internalization offers multifaceted advantages, including reduced currency risks, enhanced trade dynamics, and strengthened macroeconomic stability. However, challenges such as attaining sufficient scale, ensuring rupee stability, and fostering liquidity persist. To address these challenges, policy recommendations emphasize controlled internationalization, leveraging democratic stability, and fostering financial market development. Additionally, future research avenues are identified, including sustainable growth policies, strategies for market depth, regulatory measures for currency convertibility, advocacy for global acceptance, fiscal and monetary policy impacts, and effective currency management. By implementing these recommendations and advancing research in these areas, India can navigate the complexities of rupee internationalization, thereby propelling its economic growth and bolstering its position in the global financial landscape.


Keywords: Rupee Internalisation, Indian Economy, Globalisation, Currency Risk, Economic Integration, Forex Reserve, Exchange Rate, Financial Sector, Foreign Direct Investment, Capital Flows, Trade Liberalisation, Trade Dynamics, Financial Transactions, Payment Integration


Edition: Volume 13 Issue 4, April 2024,


Pages: 27 - 37


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