Ignore the doom mongers, India will return to the high growth path by winter.
There’s an old truism about India which holds that for everything that is true about this country, the exact opposite is also correct. This is true for the Indian economy as well.
The country’s foreign exchange reserves recently crossed the $400-billion mark, making India the world’s sixth-largest holder of forex, ahead of the Euro zone, Brazil and Taiwan. The Indian rupee, which had fallen to a low of Rs 68.85 against the US dollar four years ago under the previous Congress-led UPA regime, has gained about 6 per cent to about Rs 64 and experts expect it to strengthen further.