India has seen 9 percent-plus economic growth for the past three years and many thought it would remain relatively immune to the global financial crisis and the subsequent slowdown. But its stock market has tumbled 50 percent this year and all the signs point to a sharper slowdown than most were anticipating.
Corporate expansion plans, capital raising and partial privatisations by the government have all had to go on hold as investors, foreign and domestic, have run scared before the storm which has ripped through financial markets worldwide. Politicians too face a tough year, with national elections due in early 2009 and millions of voters for whom a first car, apartment or refrigerator is once again moving out of reach.
What does all this mean for India’s transformation into an Asian powerhouse? Will it set the country’s infrastructure and commercial development back several years or is it just a blip?
Some of the country’s most influential figures will discuss these topics and their own firms’ plans to ride out the slowdown at the Reuters India Investment Summit, which will generate a package of exclusive stories, online videos, blogs and analysis.
Summit Notebook
Exclusive outtakes from industry leaders
Welcome to the 2008 India Investment Summit
Posted by: Nicole Volpe
Tags: India Investment, India
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5 comments so far
pls upload the speaker transcripts as well as we are unable to hear audio or see video.
- Posted by eternalI am interested, kindly send me details
- Posted by SUBHRANSUEverybody believes that the Indian economy is immuned from teh global slowdown..because unlike China, India is not extensively dependent on exports. But then why did indian stock market tumbled ?? the reason..the big heavyweight stocks like the tatas, Reliance, ONGC went on a overseas take over frenzy just before the slowdown started…had they waited for few more months not only they would have saved billions of $$ also the big depths they are in now because of take overs.Apart from these mistakes there are IT majors like Infosys, Wipro, Mindtree which are affected by slow down in bussiness in US as these few companies though but heavily depended on US customers. Added to this reason we have seen heavy pull out from investors from US which led to the change is sentiments of market..
- Posted by OmThe growth rate is only possible if fringe leaders(Political) do not hold the country to ransom by way of Pro farmer /Pro environment etc etc gimmicks.READ NANO CAR PROJECT:
- Posted by Rasik Ranjan HegdeWhile inclusive growth is obvious, political blackmail will only deter investments from both Foreign and Domestic.
The ABCD growth path to sustain 9 % ++ growth would be
A)Tackle Corruption B)Control Population C)Quality Education
D)Infrastructure
A)Corruption cannot be controlled because of politics.
B)Population cannot be controlled because people not willing.
C)Quality Education- there is long term hope here but the students are only as good as the teachers.
D)Infrastructure cannot be built because of corruption.
given this scenario long term growth will only come from meaningful exports,or large domestic consumption eg tata nano.
- Posted by Arv Ran