As the U.S. and Europe teeter on the edge of a devastating double-dip recession, India’s economic boom—once considered a bright spot in an otherwise bleak global financial landscape—is also showing signs of weakness.
The International Monetary Fund recently cut its growth projection for India, warning that the country was perilously close to double-digit inflation. (In the past fiscal year, India’s economy grew 8.5%; before the financial crisis, its growth exceeded 9% for three straight years.) The IMF cited “a drag from renewed global uncertainty” as the main reason for the revision, but that is letting India off easy.
Read the full column at Forbes Leadership Forum
S.P. Kothari is Deputy Dean and the Gordon Y Billard Professor of Management Professor of Accounting
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