I went to a Brown University event a few weeks ago at Delhi. Mukesh Ambani spoke about Indias near and medium term prospects. He was very bullish and predicted that in a few years Indias gdp growth rate will consistently exceed that of China. He said that the rapid decline in oil prices is a special bonus for India and the government must use the exchange saved judiciously to build infrastructure and stimulate greenfield investment. I agree. This oil bonus, which could add up to anywhere between $50-80 billion annually, will last a few years atleast and we have to use it for effect and not fritter it away on freebies and expensive toys that give us an illusion of power. The only true power is a booming economy.
Posted on: Sat, 13 Dec 2014 05:11:49 +0000
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