Anish Tawakley urges using India's forex reserves during global shocks
India's foreign exchange reserves should be used to cushion the economy during global shocks, says Anish Tawakley, chief investment officer at DSP Asset Management.
On a recent podcast, he explained that these reserves exist for moments like rising oil prices or sudden changes in foreign investments, helping India stay steady when things get unpredictable.
Anish Tawakley opposes steep rupee depreciation
Tawakley pointed out that using the reserves can keep essential imports like oil flowing and prevent the economy from stalling.
He's not a fan of letting the rupee drop too much just to ride out tough times.
As he put it, "The reserves are meant for protecting the economy from external shocks."
Once things settle down globally, he believes India can rebuild its reserves and get back on track for growth.