FN has sent a very interesting but very likely to happen opinion on India’s faltering economy, via Twitter.
What the economist essentially says is that India’s tremendous growth since 1999 has been middle-income consumption rather than export-driven. That has now levelled off and the poverty of the rest of the population and the age old corruption will start to drown drown it. So rather than being like China, it will follow the likes of Brazil and South Africa. Combine this with the oncoming global slowdown, with the travails of the Indian banking sector bad loans and with the excessive retail credit which will turn sour due to job losses and the faltering economy and you have a huge problem looming in the country’s horizon. The good times - the Casinos, Cash Flash, Tourism and other consumer spending will dive and so will the ordinary Indian’s future along with it. In such times, Cash will be King, so if you’re not using it to generate more cash in productive ways (not investing or real estate), just hoard it for better times. https://www.ndtv.com/india-news/rathin-roy-crisis-shadow-on-indias-economy-predicts-member-of-pm-narendra-modis-think-tank-2034948 Roland. Toronto.
