James Crabtree on how Indian business looks to Modi to spark capex revival
In his most recent posting, James Crabtree, Mumbai Bureau Chief of The Financial Times, looks at the likelihood of a post-election economic upturn in India.
James shows that the business consensus overwhelmingly believes that opposition leader Narendra Modi is set to triumph in May’s voting, a view which has more to do with the unpalatable nature of the alternatives for Indian growth than a thorough analysis of his odds of victory. Nonetheless, as James points out, there are plenty of assumptions being made about how quickly a victory for Mr Modi is likely to filter through into higher investment, which seem at least questionable.
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