India on currency manipulation watchlist: Is that a cause for concern?

The US Treasury has, while branding Switzerland and Vietnam as currency manipulators, added India, Taiwan and Thailand to its “Monitoring List”, which also includes China, Japan, Korea, Germany, Italy, Singapore and Malaysia. The review period for the list was for the four quarters to June 2020. 
 

On what basis is a country branded a currency manipulator?
 

The US follows three criteria: A country has to persistently intervene in its currency market with an aim to keep the currency relatively weaker; the country should be running significant trade surplus vis-a-vis the US; and the country has to have a current account