The Indian Rupee doesn't figure on the latest Big Mac Index. Probably because the franchise doesn't have a beef burger variety available for consumption in India. Replacing chicken for beef, and running through the numbers it seems the INR is undervalued by almost 65%. This indicates the PPP value of the INR to the USD to be in the range of Rs.15 to Rs.17.
Bad news for the NRI's remitting money to India, "Enjoy it while it lasts. The Rupee is headed just one way, and that's against you". :)