Against the backdrop of global economic uncertainty and doubts of Europe’s ability to solve its sovereign debt crisis any time soon, India and Japan, as part of their annual bilateral summit, inked a new bilateral currency swap line of $15 billion for three years, multiplying the previous swap line of $3 billion which had expired last June. While this agreement flags the continuing misgivings in New Delhi and Tokyo about the economic wind in the West, it is also designed to bulwark the rupee, Asia’s worst performing currency this year, against the flight of foreign investments from the Indian market.