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Indian reforms are good news for UK lawyers

"It is a well-worn fact that India has identified a requirement for around $500bn (£312.19bn) of infrastructure investment over the next eight years or so and that this will almost certainly need to come from outside the country." While it is true that $500 billion is needed to upgrade the infrastructure, it is not true that this will almost certainly need to come from outside India. India has not relied heavily on foreign investment. Nearly all of the growth in India has been driven by domestic investment, and India relies less than China on export growth. India's current account deficit has hovered around 3%, meaning that India does not rely so heavily on foreign savings for investment. It can and should rely upon domestic resources.

2-Jun-2009

10:33 am