The prime minister and the finance minister did some plain-speaking with businessmen a few weeks ago about the economic climate in the country- how businessmen were creating a strong sense of negativity all round with their comments on 'policy paralysis' and its impact on the economy.
I thought even then that their plain-speaking was warranted. I am even more convinced after studying the figures on foreign capital flows. It is simply not true that foreign capital is shunning India. On the other hand, there is reason to believe that the long-term trends in flows are extremely positive, no matter that FIIs may have fled for the moment. I think the trends in FDI are particularly heartening, notably, the fact that FDI in the post-crisis period has been higher than in the India Shining period.
More in my ET column, Foreign money still pouring in.
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9 comments:
Thanks. Encouraging to know that someone is still positive about the Indian economy.
However, I think that one can expect slower growth in the upcoming 1 to 2 years with all the euro debt crisis and stuff.
Thanks... food for thought. And encouraging, too
Thanks... food for thought. And encouraging, too
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our indian giants are also satisfied with india's bleak future. Thats why they are spending approximately 29 billion $ on foreign countries
I absolutely agree: politic declarations have a real impact on economy. In india and all around the world.
Interesting article!
To a certain extent, it is true that Indian tycoons are exaggerating the negative vibe that has gripped the Indian economy. But not all of it is fake. The precedents this government has set, and its low standards in everything gives legitimacy to the concerns of the businessmen.
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