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The Emerging Markets Handbook: An analysis of the investment potential in 18 key emerging market economies by Pran Tiku

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Chapter 6: India

Overview

To most outsiders India remains an enigma wrapped in a multitude of opportunities and risks. As a member of the BRICs, India is impossible to ignore, but the inability of the Indian political class to implement crucial reforms and exercise fiscal restraint frustrates foreign investors who see enormous opportunities in a rapidly expanding, aspirational middle class.

While recent chatter about replacing India with Indonesia in the BRICs seems premature, it remains to be seen whether India’s leadership will capitalise on the good work done since liberalisation opened up the economy to the world in 1992.

Quick history

“India is the cradle of human race, the birthplace of human speech, the mother of history, the ...

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