7.12.15

Looks likes India's moment

India seems to be the bright spot among emerging markets and this has created a sense that this is the country's moment, says former US treasury secretary Larry Summers, one of the world's leading economists. “I think there is a sense of excitement inherent in this moment,“ he said.
Summers said the NDA government was characterized by “vaulting“ ambition compared to the late stages of the previous government. However, he cautioned that India had aroused expectations, and not delivering would be a disappointment. “If things don't happen now, the question will be asked by foreign investors: If not now, when?“ Summers said. Noting that several laws had been passed, he said the strength of the parliamentary mandate meant the “promiscuous distribution of veto power was attenuated“.
On PM Narendra Modi's leadership, he said power of personality could only go so far and processes and systems were needed to take India forward. 

No comments: