Foreign institutional investors now apparently control 75% of India’s free-floating stocks valued at some $250 billion. A threat to sell even a tiny fraction of these holdings could send the stock market and the currency crashing. Are we then prepared for such an eventuality, if the nexus between foreign capital and big business is questioned by a new political order after the elections? There is an urgent need to mobilise public and intellectual opinion against bowing to the pressures of international capital.
Posted on: Tue, 18 Mar 2014 05:11:06 +0000