Reading the mint leaves: Shyamala Gopinath
November 11, 2010Shyamala Gopinath
61, Deputy Governor, Reserve Bank of India
(New on BT's Most Powerful list)
She came to Mumbai from Bangalore close to four decades ago with her grandmother. She would ride a truck to reach downtown from the suburbs during the nationwide train strikes of the seventies.
Since then, Gopinath has written regulations, managed government debt, kept an eagle eye on the exchange rate, managed foreign exchange - and even done a cushy stint at the International Monetary Fund in 2001.
Today, Gopinath probably has one of the toughest jobs going around - of managing the government's burgeoning borrowings and also keeping an eye on the rupee, which has been appreciating against the US dollar and putting exporters in a spot. Gopinath is concerned, but not alarmed. "One can see the growth differential," she says, pointing to the widening gap in growth figures for the developed and the developing world. Also, the rupee's appreciation is an indicator that global liquidity is chasing India and other emerging markets.
If she is not alarmed, you should not be, either.