Prefatory Note: This was part of a 1993 study I did as a Consultant at the International Monetary Fund in Washington in a project on exchange-rates and exports of “South Asian” countries for Hubert Neiss. The IMF is not responsible for its content. It was included in “India in World Trade & Payments”, first published in The Statesman, Feb 11-12 2007. See also
3) My 3 Dec IIC Delhi talk “Towards Making the Indian Rupee a Hard Currency of the World Economy: An analysis from British times until the present day” & its coverage in Asian Age/Deccan Herald, GDI Impuls Zurich, Lok Sabha TV & Sunday Guardian
4) Did Jagdish Bhagwati “originate”, “pioneer”, “intellectually father” India’s 1991 economic reform? Did Manmohan Singh? Or did I, through my encounter with Rajiv Gandhi, just as Siddhartha Shankar Ray told Manmohan & his aides in Sep 1993 in Washington? Judge the evidence for yourself. And why has Amartya Sen misdescribed his work? India’s right path forward today remains what I said in my 3 Dec 2012 Delhi lecture!