Indian Rupees Research Articles

Forecasting the Volatility of Indian Forex Market: An Evidence from GARCH Model

Forecasting the volatility of forex market will create more trading opportunities to investors, despite of ups and downs in the forex market. The present study attempted to examine how the volatility in the exchange rate between Indian rupee and selected four foreign currencies, such as US dollar, euro, Japanese yen and British pound, can influence the market return. The data, used in the present study, covered the daily price observation of four foreign currencies, for a period of 5 years, from 2019-2023. The GARCH (1, 1) (generalized autoregressive conditional hetero skedasticity) was used for develop the model for foreign exchange (FX) rates volatility. Mean equation model confirmed that the series had attained stationary and previous price did influence the current price. It was also supported by co-efficient values in the variance equation. The co-efficient value, in the variance equation, was around one, which showed that the forex market was efficient. Further, it was validated that the volatility shocks in forex market were quite persistent. The active investors in the market may use this opportunity immediately. The policy maker may correct this deviation through timely intervention in the currency market.

Predicting exchange rate between the us dollar (USD) and Indian rupee (INR): An empirical analysis using Sarima model

Predicting exchange rate between the us dollar (USD) and Indian rupee (INR): An empirical analysis using Sarima model

Рупия против мировых резервных валют в российско-индийской торговле

This article analyses possible connection between sharp depreciation of the Russian Rouble in the second half of 2023 and the growing usage of Indian Rupees for settlement of Russo-Indian trade. Some experts explained that depreciation by the ‘Rupee trap’, which was created by quick growth of Russian exports to India while the opposite flow was not significantly changed. They suggested that superior export revenues of Russian companies from exports to India were accumulated in Rupee accounts in Indian banks. Then somehow, these Rupees have penetrated the foreign exchange market in Russia and have depreciated the Rouble exchange rate. Author has analysed available statistics from both countries and came to conclusion that described problem is factitious. It is true that the usage of Rupee for invoicing in the external trade of India has increased in the last couple of years. However, the real volume of such usage is much smaller than the volume of Indian external trade. Indian Rupee is not a freely convertible currency, so exchange of Rupee assets for other currencies is a subject of a range of restrictions and quotas. Foreign exporters to India are aware of this and in practice agree to accept Rupees only in limited amounts. A number of top-ranking people from Russia and India, who were well informed about mutual trade, confirmed such practice. Therefore, there is no reason to consider that Russian exporters might accumulate too big Rupee assets. In addition, statistics of currency invoicing of Russian external trade in 2022–2023 suggest that volumes of inward and outward flows of non-reserve currencies (like Renminbi, Rupee, Dirham etc.) are about equal. This means that demand/offer of such currencies are balanced. However, for the same period, the demand for Roubles outside Russia was bigger than their offer from Russia. So all together, this does not confirm assertions that increase of Rupee (or other non-reserve currency) assets was the main cause of the sharp Rouble depreciation in 2023.

Clinical Audit of Drug Prescription for Skin Disorders in Dermatology OPD at A Tertiary Care Centre

Introduction: Clinical audits are part of continuous quality improvement process that focus on specific issues or aspects of health care and clinical practice. There is growing concern about inappropriate drug utilization and prescribing habits of practitioners at all levels of health services. The cost of irrational use of medicines is enormous in terms of scarce resources and risk of adverse drug reactions. There is a paucity of data regarding prescription practices particularly in the dermatology department, so present audit was conducted. Materials and Methodology: This prospective prescription audit was carried out in Skin OPD of tertiary care centre amongst 100 prescriptions for duration of two months from November to December 2022. Demographic details and details of medications were recorded in a prestructured proforma and statistical analysis was done using descriptive studies. Results: In the current audit, 100 prescriptions were reviewed of which maximum prescriptions (33%) had a total of 3 drugs prescribed followed by 5 drugs in 22% of the prescriptions. Almost half, 45% prescriptions had 2 topical drugs and total 36% prescriptions had 2 systemic drugs given. In topical medications, 41% had moisturizers, 33% had antifungals. In systemic medications, 65% were anti-histaminic, 28% were antifungals. The frequency, strength, brand name and generic name were mentioned for topical and systemic drugs in 96% and 97% respectively .Total 14% of the prescriptions had FDCs. The average cost of prescription was Indian rupees 374.38. Discussion: Rational prescription writing is a talent that is learned via practise. Irrational prescriptions unnecessarily increase cost and duration of treatment. Drug interactions, medication resistance, and adverse drug reactions are also brought on by such activities which raises patient’s mortality, morbidity, and financial burden. Conclusion: This audit serves the purpose of evaluating prescriptions and further motivating such regular checks to improve patient outcomes.

Self-medication prevalence and associated factors among adult population in Northern India: A community-based cross-sectional study.

This study aimed to determine self-medication prevalence and its associated factors. A community-based cross-sectional study was conducted in the urban and rural catchment areas of Uttar Pradesh, India, among 440 adults using a pretested, semistructured questionnaire. The Chi-square test and logistic regression were used to determine the association of self-medication prevalence with various independent variables. The associations were reported as adjusted odds ratios and 95% confidence intervals. The prevalence of medication use was 66.4%. The majority of participants (45%) took medicine for fever, cough (40.1%), and cold (31.8%). Allopathy (83.2%) was the most common medicine system used for self-medication. More than half reported taking medicine such as paracetamol (52%), followed by cough syrup (21%) and antihistaminic (17%). Convenience (46%) and lack of time (35.3%) were commonly cited reasons for self-medication. Also, 64.4% of the respondents practiced self-medication on the pharmacist's recommendation. Urban participants (adjusted odds ratio: 9.85, 95% confidence interval: 5.32-18.23), females (adjusted odds ratio: 2.32, 95% confidence interval: 1.18-4.57), skilled workers (adjusted odds ratio: 5.62, 95% confidence interval: 1.80-17.5), and those who completed primary school (adjusted odds ratio: 2.48, 95% confidence interval: 1.16-5.25) were more likely to self-medicate than rural, male, unemployed, and illiterate participants, respectively. Also, participants whose income was 30,000 Indian rupees (adjusted odds ratio: 3.21, 95% confidence interval: 1.00-10.21) were more likely to self-medicate than those whose income was less than 4000. A high prevalence of self-medication was found, particularly in urban areas. Convenience and lack of time were commonly cited reasons for self-medication. Allopathy was the most widely used medicine system for self-medication. Antipyretics, cough syrups, and antiallergics were most commonly self-medicated. Gender, education, and income were associated with self-medication. The study highlighted the increased usage among females which could be further explored and role of pharmacists' recommendation as a major driver for self-medication.

Testing Portfolio Balance Approach to Exchange Rate during Managed Float: An Empirical Evidence from India

Any global economic and financial disturbance affects trade and capital flows of our economy through exchange rate movements. The portfolio balance (PB) approach considers the capital flows as an additional variable explaining the exchange rate movements. This approach assumes domestic and foreign bonds to be imperfect substitutes. The bonds bearing high risk carry comparatively higher return in the form of risk premium. This study attempts to re-examine the empirical soundness of the PB model in respect of Indian rupee/ US dollar (INR/US $) exchange rate. It covers the period from 2000: 1 to 2023:1. Augmented Dickey Fuller test and Phillip Perron tests are used to test stationarity property of the variables. The Ordinary Least Square (OLS) methodology of regression is used for the purpose of estimation. Autocorrelation problem is dealt with by using the Cochrane Orcutt procedure. The PB model is estimated in naïve form as well as in partial adjustment form. The empirical finding shows that the PB model works well in partial adjustment framework rather than in its naïve form with speed of adjustment being three to four quarters. The money supply differential and relative real Gross Domestic Product (GDP) are identified as significant variables whereas the bond holding variable remained insignificant. However, in the long run, the model did not work. It is suggested that the fiscal and monetary policies that enhance capital spending in productive sectors should be implemented to achieve a gradually appreciating exchange rate.

Treatment of greywater by Electrocoagulation process coupled with sand bed filter and activated carbon adsorption process in continuous mode

<abstract> <p>Worldwide population growth and consumerism have elevated the water pollution problem to the top of the environmental priority list, with severe consequences for public health, particularly in agricultural countries such as India, where water scarcity is a big challenge. Hence, greywater has the potential to be one of the most sustainable options to meet the growing need for freshwater with satisfying treatment options. This study focused on the assessment of electrocoagulation coupled with the filtration and adsorption processes in continuous modes and different electrode arrangements including (Al-Fe-Al-Fe), (Fe-Al-Fe-Al), (Al-Al-Al-Al) and (Fe-Fe-Fe-Fe) to investigate the effect of specific flow rates (i.e., 0.05 and 0.1 liters per minute) on the removal efficiency. The findings show that a 0.05 lit/min flow rate produces a higher removal efficiency approximately between 85 to 90% with an energy consumption of between 0.5 to 4.75 KWh/m<sup>3</sup> as compared to the 75 to 85% removal efficiency and 0.4 to 4 KWh/m<sup>3</sup> energy consumption at a flow rate of 0.1 lit/min. The operational cost is variable and mainly depends upon the energy consumption; moreover, it was found that the optimal results and economy variation shown by the electrode assembly of Al-Fe-Al-Fe was between 20 to 22 Indian rupees at a 24 volt current density and in each combination of electrodes.</p> </abstract>

Fake Currency Detection

Due to the great technological developments in the field of color printing in the past few years, it is becoming increasingly recognized that counterfeiting is a serious problem. It used to be possible and very simple for anyone to quickly prepare and print counterfeit currency notes using a computer and a laser printer at homes or places of employment. In the past, only printing houses had these facilities. The most crucial issue is now how to accurately distinguish fake currency from real currency using automatic machines. Almost all nations struggle greatly with the issue of counterfeit currency notes. But since counterfeiting has become such a pressing issue in India, it is thought to be the most serious issue there. Therefore, it is necessary to create a module that will aid in the quick and efficient recognition and detection of paper currency notes. An approach for the identification and verification of Indian currency is described in this proposed system. The authenticity of the currency will be verified using image processing methods, regardless of whether it is genuine.

Cost-effectiveness analysis of emicizumab prophylaxis in patients with haemophilia A in India.

Emicizumab is the initial subcutaneously administered bispecific antibody approved as a prophylactic treatment for patients with haemophilia A (PwHA). This study assessed the economic evaluation of emicizumab treatment for non-inhibitor severe haemophilia A (HA) patients in India. A Markov model evaluated the cost-effectiveness of emicizumab prophylaxis compared to on-demand therapy (ODT), low-dose prophylaxis (LDP; 1565IU/kg/year), intermediate-dose prophylaxis (IDP; 3915IU/kg/year) and high-dose prophylaxis (HDP; 7125IU/kg/year) for HA patients without factor VIII inhibitors. Inputs from HAVEN-1 and HAVEN-3 trials included transition probabilities of different bleeding types. Costs and benefits were discounted at a 3.5% annual rate. In the base-case analysis, emicizumab was cost-effective compared to HDP, with an incremental cost-effectiveness ratio (ICER) per quality-adjusted life-years (QALY) of Indian rupees (INR) 27,869. Compared to IDP, ODT and LDP, emicizumab prophylaxis could be considered a cost-effective option if the paying threshold is >1 per capita gross domestic product (GDP) with ICER/QALY values of INR 264,592, INR 255,876 and INR 305,398, respectively. One-way sensitivity analysis (OWSA) highlighted emicizumab cost as the parameter with the greatest impact on ICERs. Probabilistic sensitivity analysis (PSA) indicated that emicizumab had a 94.7% and 49.4% probability of being cost-effective at willingness-to-pay (WTP) thresholds of three and two-times per capita GDP. Emicizumab prophylaxis is cost-effective compared to HDP and provides value for money compared to ODT, IDP, and LDP for severe non-inhibitor PwHA in India. Its long-term humanistic, clinical and economic benefits outweigh alternative options, making it a valuable choice in resource-constrained settings.

Implications of Central Bank Digital Currency in India: A Critical Analysis

Central Bank Digital Currency (CBDC) is creating a lot of waves these days in the Indian economy due to its digital character. It is a sovereign currency issued by the central bank and a fungible legal tender for which users need not have a bank account. It is a much faster real-time tool to not only do a simple exchange of funds but for development of India’s monetary policy. In other words, CBDC is the physical bank note which is now put on a blockchain. Many questions arise about the legal and policy implications of CBDC. Even people are muddled as to what is the need of introducing a digital currency when cryptocurrency and other e-payment platforms are existent. This paper shall try and highlight the effect on the economy by introduction of digital currency and what are the major privacy, security, technological and monetary policy concerns surrounding it. It shall also draw comparisons from other jurisdictions where a digital currency has already been bought into force.

Exploring the Influence Dynamism of Economic Factors on Fluctuation of Exchange Rate - An Empirical Investigation for India Using ARDL Model

The Indian Foreign Exchange Market has experienced significant changes over the past decade, due to high degree of instability of the Indian Rupee leading to its devaluation against major global currencies. Exchange rate is considered as one of crucial indicators to determine the economic growth. Volatility of exchange rate of each day is influenced by various factors such as demand and supply, Gross Domestic Product, Interest rate, employment rate, public debt, balance of payments, inflation etc. Though there are multiple causes to determine the movement of exchange rate, but still the accurate level of causation is unpredictable. Keeping this in mind, this paper tries to attempt the relationship that exists between the exchange rate and select macroeconomic factors. To analyse the extent of influence of the selected variables on the exchange rate, the research paper uses 10 years of data spanning from Jan 2013 to Nov 2022. Further, the study uses monthly data of above-mentioned variables to bring out the analysis to meet the objectives. Descriptive statistics is used to find the characteristics of the data, correlation analysis and Ordinary Least Square method is used to find the relationship and impact level select macroeconomic factors on exchange rate. Autoregressive Distributed Lag (ARDL) model is used to find if any short run and long run association exists between the variables and the exchange rate.

PREVALENCE OF SICKLE CELL ANEMIA IN YOUTH BY COST EFFECTIVE STRATEGY ALONG WITH HPLC

This study aimed to determine the prevalence of sickle cell disease among students of Anand People’s Medicare Society (APMS) using cost-effective screening methods and confirming the results with high-performance liquid chromatography (HPLC). A total of 395 students from Anand, Gujarat, were screened using the sickling test and solubility test as primary screening methods. Haemoglobinopathies carriers were diagnosed and confirmed using HPLC at the Indian Red Cross Society, State Branch in Ahmedabad. Complete hemogram analysis was performed, and the results were tabulated and analyzed. The results indicated that HPLC exhibited 100% sensitivity, specificity, and accuracy, while the sickling test demonstrated a sensitivity of 66.66%, specificity of 97.90%, and accuracy of 97.21%. The solubility test showed a sensitivity of 53.84%, specificity of 96.85%, and accuracy of 95.44%. HPLC had a 100% positive predictive value (PPV) and negative predictive value (NPV), whereas the sickling test had a PPV of 55.55% and NPV of 99.20%. The solubility test yielded a PPV of 36.84% and NPV of 98.40%. In conclusion, the sickling test and solubility test are cost-effective and easily conducted, with the sickling test providing more reliable results with higher sensitivity and specificity compared to the solubility test. HPLC is considered the gold standard test for screening.

Distribution Nature of Foreign Exchange (FOREX) Rates in Nepal

The economy of Nepal is based on the inflow of remittances sent by the Nepalese who have gone abroad for foreign employment. The trend started after the start of the Maoist insurgency and has been going on due to a lack of employment opportunities within the nation. Other than remittance, tourism and a certain amount of foreign aid have been the sources of foreign exchange earnings for Nepal. These sources of FOREX have been able to maintain the balance of payments in Nepal. One unique feature of FOREX rates in Nepal is that the Nepalese rupee (NPR) is pegged with the Indian rupee (INR), the currency of the neighboring nation, India. The central bank of Nepal, Nepal Rastra Bank, publishes FOREX rates for 21 different countries on a daily basis, though exchange rates for 16 currencies have been publishing buying and selling rates for the past decade. Hence, the paper analyzed the distribution nature of 16 countries FOREX buying and selling rates and found that INR FOREX rates have no randomness as they are pegged. The most concerned currencies, like USD, SAR, QAR, and AED, were fitted with beta distribution capabilities to reflect the future trend of the exchange rate. At the same time, the GBP buying rate, JPY, and KRW buying and selling rates were best-fitted in general extreme value (GEV), reflecting the risky nature of currencies. The exchange rate distribution seems to be a concern to the exporter and importer, as the nature of the distribution could help to categorize the level of FOREX risk with a specific currency.

The economic impact of a COVID-19 illness from the perspective of families seeking care in a private hospital in India.

The Covid-19 pandemic had a tremendous impact that caused significant morbidity, mortality, and financial stress for families. Our study aimed to determine the Out-of-pocket expenses and economic impact of a Covid-19 illness for households where patients were admitted to a private hospital in India. This was a cost-of-illness study from a tertiary care academic institute where adult patients diagnosed with COVID-19 from May 2020 to June 2021 were included. Patients with an admission of less than one day or who had any form of insurance were excluded. The clinical and financial details were obtained from the hospital information system and a cross-sectional survey. This was stratified across three clinical severity levels and two epidemiological waves. The final analysis included 4445 patients, with 73 % admitted in Wave 1 and 99 patients interviewed. For patients with severity levels 1, 2 and 3, the median admission days were 7, 8 and 13 days respectively. The total cost of illness (general category) was $934 (₹69,010), $1507 (₹111,403) and $3611 (₹266,930) and the direct medical cost constituted 66%, 77% and 91% of the total cost for each level respectively. Factors associated with higher admission costs were higher age groups, male gender, oxygen use, ICU care, private admission, increased duration of hospital stay and Wave 2. The median annual household income was $3247 (₹240,000) and 36% of families had to rely on more than one financial coping strategies, loans with interest being the commonest one. The lockdown period affected employment and reduced income for a considerable proportion of households. A Covid admission of higher severity was a significant financial burden on families. The study reaffirms the need for collaborative and sustainable health financing systems to protect populations from hardships.$-US Dollar; ₹- Indian Rupees.

Review on Solar Hybrid Systems and its Approaches for Green Power Generation

In one and a half hours, enough sunlight strikes the earth’s surface to supply enough energy for one year. Solar technologies harness the power of the sun by using photovoltaic panels or mirrors that focus and convert the energy from the sun’s rays into electrical energy. From this energy, electricity can be generated, or it can be stored in batteries or thermal storage. Photovoltaics (PV) or concentrated solar power are two methods of converting sunlight into electricity. Inexhaustible and renewable, solar energy is harnessed through the use of mirrors and panels and is produced from the Sun’s light - photovoltaic energy. By reducing the cost of battery storage and solar energy, hybrid systems are expected to become more cost competitive. Even at today’s prices of around 6-7 Indian Rupees per kilowatt hour (kWh), solar, wind, and storage can provide reliable round-the-clock power. In order to revaluate the performance, we have compared some of the research work done in the off-grid / off-grid systems simulated using HOMER. As HOMER compares thousands of possibilities at once, you can see how variables beyond your control affect the optimal system, such as wind speed, fuel costs, etc.

Vaikų, sergančių didžiąja beta talasemija, mitybos būklė

Background. Children with beta thalassemia major are at risk for poor nutritional status, which can lead to signifcant health problems. It is essential to evaluate the level of malnutrition among individuals.
 The aim. To assess the nutritional status of children with beta thalassemia major using body mass index.
 Methods. This cross-sectional study was conducted at the District Branch of the Indian Red Cross Society in Ahmedabad, Gujarat. The purposive sampling technique was used to select 119 children with beta thalassemia major as participants. The nutritional status of children aged 8 to 18 years was assessed from September 2021 to December 2021.
 Results. Out of the 119 participants, 56 (47%) were female and 63 (53%) were male. The mean height was 150.82 ± 22.44 cm, the mean weight was 34.71 ± 11.62 kg, and the mean BMI was 15.28 ± 4.25. Out of a total of 119 patients, 62.18% were underweight, 31.93% were healthy, and 5.88% were overweight. 55% of females and 68% of males were underweight. There is a statistically signifcant association between age and nutrition status (P=0.04). The data depicts a statistically significant association between family monthly income and nutrition status (P=0.013).
 Conclusion. Results of this study showed that the majority of the children with thalassemia were underweight. There is a statistical association between age, economic status, and nutritional status. There is a need to raise awareness about food and nutrition for children with beta thalassemia major.
 Keywords: thalassemia major, body mass index (BMI), underweight, nutrition.

A Digital Forensics Model for the Examination of QR Code and Android App to Investigate Aadhaar Card Identity Fraud

There are various new-age crime rackets reported with the help of digital technology and such cases are routinely investigated by the police and digital forensics analysts. In the course of investigation of different rackets such as Aadhaar card, ATM card, PAN card, ration card, voter identity card, passport, fake Indian currency note, various electronic gadgets such as mobile phones, laptops, desktops, biometric scanners, GPS devices, SIM cards, portable skimmers and hi-tech printers are usually taken from the fraudsters for digital forensics analysis. In one case, some Aadhaar cards, mobile phones, laptops, SIM cards and memory card were seized from some suspected airline passengers by the law enforcement agency. All the key probe elements were received for digital forensics examination. In this paper, we propose a digital forensics model for decoding a distorted QR code and specialized Android app used in the creation of fake Aadhaar cards. This model comprised a new algorithm to decode QR codes and recovery of background data including resources associated with the QR code. The proposed model was tested with a QR code retrieved from a suspect’s laptop and Aadhaar card document. The Android app used for preparation of fake Aadhaar card was analyzed in our model and also checked in a mobile phone to verify data generated through the app. The result of the analysis detects fake Aadhaar cards. Further, examination of mobile phones and laptops revealed various technical data, supporting link evidence for preparing disputed fake Aadhaar cards for ID proof.

Assessing a digital technology-supported community child health programme in India using the Social Return on Investment framework.

An estimated 5.0 million children aged under 5 years died in 2020, with 82% of these deaths occurring in sub-Saharan Africa and southern Asia. Over one-third of Mumbai's population has limited access to healthcare, and child health outcomes are particularly grave among the urban poor. We describe the implementation of a digital technology-based child health programme in Mumbai and evaluate its holistic impact. Using an artificial intelligence (AI)-powered mobile health platform, we developed a programme for community-based management of child health. Leveraging an existing workforce, community health workers (CHW), the programme was designed to strengthen triage and referral, improve access to healthcare in the community, and reduce dependence on hospitals. A Social Return on Investment (SROI) framework is used to evaluate holistic impact. The programme increased the proportion of illness episodes treated in the community from 4% to 76%, subsequently reducing hospitalisations and out-of-pocket expenditure on private healthcare providers. For the total investment of Indian Rupee (INR) 2,632,271, the social return was INR 34,435,827, delivering an SROI ratio of 13. The annual cost of the programme per child was INR 625. Upskilling an existing workforce such as CHWs, with the help of AI-driven decision- support tools, has the potential to extend capacity for critical health services into community settings. This study provides a blueprint for evaluating the holistic impact of health technologies using evidence-based tools like SROI. These findings have applicability across income settings, offering clear rationale for the promotion of technology-supported interventions that strengthen healthcare delivery.

Impact of Rupee Depreciation on IT Sector of Indian Economy

Abstract: The Indian Rupee has significantly declined in value relative to other major currencies as a result of its volatility. In this advancing world, there are many things that have an effect on each other in some way or another. The effects of these economic changes are seen in the overall economic growth of a country. One of the uncertainties related to global trade is the fluctuation of exchange rates. Every area of an economy is impacted by this exchange rate fluctuation. The IT sector is one of the most crucial sectors of Indian industry as well as one of the largest drivers of export revenue for the country. Currently, this industry contributes about 7.7% of GDP. Depreciating currencies typically have a negative impact on several country sectors. However, the weakening of the rupee has been advantageous for the Indian IT sector. The US and Europe are the two regions where the Indian IT sector generates the most money. This is anticipated to have had an effect on the IT sector, which depends mostly on exports of hardware and software items as well as on the services provided by Indian IT workers in the US. This study aims to analyse the impacts of currency depreciation on the IT industry of Indian Economy.

A Study on Impact of Foreign Direct Investment and its Challenges Post Liberalization

In the beginning of liberalization when India was facing the financial crises for meeting the external commitments, during the Prime minister Chandra Sekhar government, India had to pledge its gold before World Bank to repay the foreign debts as India had only $ 1 billion foreign exchange reserves, at the same time, the immediate external payment was more than $ 25 billion. Therefore, India was bound to opt for liberal economic policy for the inflow and outflow of foreign investment and depreciation of Indian rupees by 300% in comparison of dollar from rupees 8 to rupees 28 per dollar. By which the foreign investors started attracted and investing their funds in India, as the India had and has potential for the growth and diversification of business, since then the India has made remarkable progress in the field of foreign direct Investment but there are lot many challenges and issues needs to be resolved to promote and attract foreign direct investment. The following issues and challenges are listed in the papers: lack of transparent and specific sectoral FDI policy and a limited FDI regime Contributing factors include high tariff rates compared to international standards, a lack of state government decision making power, a limited number of export processing zones, the absence of exit barrier liberalization, stringent labor laws, financial sector reforms, fluctuating exchange rates, and unclear political leadership. In this post, the authors have made an effort to update the best and most plausible conclusions for the justification of foreign direct investment.