The Indian rupee's depreciation, potentially reaching 100 against the US dollar, offers a significant but not definitive advantage to domestic manufacturers and exporters, echoing a period of liberalization in 1991 when the rupee traded at 35 amid a balance of payments crisis. While the rupee has depreciated approximately 3% annually since then, crude oil prices have risen by 4% annually, with this trend accelerating in the last decade to 11% annually for oil while the rupee dropped 4% annually. Recent economic challenges, including foreign investor outflows and low FDI, have dampened domestic investment and demand, suggesting that a weaker rupee alone may not revive the economy or fulfill the goals of initiatives like "Make in India."