It is here that places like Coimbatore, which is both a centre of educational and entrepreneurial excellence, can play a leading role. We must accept the fact that the overall skill base of India is rather low compared to developed economies.
BIS central bankers’ speeches  3  prices, and the speed with which the recent depreciation feeds through to higher inflation. Our modelling suggests that a 1 percent exchange rate depreciation boosts annual CPI inflation, albeit with a considerable lag, by around 0.1 percentage points.