Yes you have read it right. The very essence of a not very old economic eclipse in the circle of giants, another Asian myth joined the club of ‘G’s and that Asian like its predecessor is India. The G club in elaboration is G20.
India like its northern neighbour China was also not a stranger to microeconomics potential and with its sheer mass on continental Asia, it earned all economics credibility to be the part of the globalization maze.
Back in the early 90’s, India started flexing its possibilities matrix to join the forum of known giants. The idea of being tomorrow’s global player well played in this Asian players favor through its Billion plus headcount and the greed of global synergies. Foreign investments, golden handshakes, franchising retailing, manpower outsourcing are few economics indicators which lead the folded currency coffers inflate. At a stage when the world was going through economic meltdown, India floated its balance sheets with double digits growth path. The project India is built on an integrated globalization axis, which started narrating its stagnation recently when the Indian rupee jumped on an endless roller coaster free fall.
Today the markets are fearing crash due to FDI evaporation and billions written off in a matter of clicks due to the investors confidence uncertainty.
I wonder, where India went wrong after this long?