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India's foreign exchange savings can exceed USD 45 billion annually if citizens and businesses respond to the recent appeal of Prime Minister Narendra Modi for "d significado"—the "moderation"—in their foreign exchange consumption, noted a recent analysis by Moneycontrol.

The assumption is that a modest 10% reduction in the volume of crude oil, gold, and edible oil imports will be achieved, with a 50% cut in fertilizer imports and total elimination of discretionary foreign travel. These moves may reduce the country's annual merchandise imports by almost 5.8 percent.

The citizens were encouraged to take advantage of public transport, carpooling, working from home, curtailing the consumption of edible oil, delaying gold purchases for one year, and not traveling to non-essential foreign countries in the wake of the increase in global oil prices and forex shortage, PM Modi had urged.

These minor adjustments can work wonders in bolstering India's economy and protecting its rupee from uncertainties in the international world, experts say. Have citizens jumped on the bandwagon for patriotism and self-reliance?