For indian exporters its good.export products and earn in dollars-->earn 6/7 rs more for every dollar you earn
for indian importers,its bad,your effectively paying 6/7rs for every dollar worth goods you import.
it has both negative and positive effect. its got more to do with rbi than usa policies.this upward spiral wont last forever.it will come down.its got nothing to do with recession.just wait till may 2012 to see where rs will be.
if rbi acts smart,ruppee can be as high as 40 per dollar imo