Minaean has set up a base in India, and has invested in excess of $5 million in setting up these plants for production of modular buildings and prefabricated structures.
When we entered the Indian market in 2001, there were 32 rupees to a Canadian dollar. Today there are 52 rupees, so you can imagine the pain the devalued Indian rupee is creating for Canadian investors who have invested money in the country.
To bring it back means we have to have that much appreciation in our returns, while transferring the dividends back in future.
Having said that, India is typically a consumer market driven economy. It is unlike other countries we have known. This country does not manipulate its currency, it has an open book policy. The Reserve Bank of India is very strong; it follows very strict guidelines that were laid out by the British when they left, and will use the same policies moving forward.