“India is now the sick man of Asia,” said Rajiv Biswas, Asia-Pacific chief economist at the financial information provider IHS Global Insight. “They are in a crisis.” In part, the problems are age-old: stifling red tape, creaky infrastructure and a seeming inability to push through much-needed changes and investment decisions. For years, investors largely overlooked those problems because of the promise of a market of 1.2 billion people. Money poured into India, allowing it to paper over a chronic deficit in its current account, a measure of foreign trade and investment.
Posted on: Thu, 22 Aug 2013 22:09:03 +0000