What exists today in India is a government, both at the Union (national) and State levels, that is increasingly run for lower castes and other disadvantaged groups. The private sector on the other hand has managements dominated by upper caste groups. This is not a healthy situation...
Somewhere in the next one to three years –maybe sooner --India will have another crisis. If the crisis of 1991 is any guide India will simply run out of foreign reserves, the rupee will collapse and financing for imports will dry up. Hopefully then genuine reforms will be introduced and some roll back of recently introduced welfare programs will occur.
Until then, stay away from Indian stocks.
............ Peter T Treadway (The Dismal Optimist)
04.2012 India A Bric Hitting a Brick Wall PDF
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