Rampant corruption, no court system or rule of law, punitive, retroactive taxes on foreign investment: Just bad luck, I guess

India’s growth collapses, lowest in a decade.

13 Comments

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13 responses to “Rampant corruption, no court system or rule of law, punitive, retroactive taxes on foreign investment: Just bad luck, I guess

  1. MC

    India??? The heading describes the Obama White House

  2. Fred2

    Hey we’re trying it all here too. But we’re different. Right?

  3. AJ

    WTF? I thought you’d finally zeroed in on everything wrong with America and your’re talking about India.

  4. a-n-o-n

    Say what you will about India’s economy, I’m stuck at home waiting for a repairman and on ESPN2 is the Scripps National Spelling Bee. Wanna guess how many contestants are of Indian heritage? Kids named Siddarth and Snigdha. Some Jane’s and Billy’s, but not many.

    • I have written before about what I see as the tragedy of India because it has a bright, well educated population and energetic workers who are being crushed by a failed government.

  5. a-n-o-n

    PS: You can follow the Bee on Twitter @ScrippsBee. They tweet after each word.

    Here a just a few of the most recent words kids have had to spell. These kids are so cute, not to mention smart!!! Way to go kids!
    lymphopoesis
    macropodid
    catallactics
    liederkranz
    dysthymia
    psychrophyte
    habendum
    quinquennalia

  6. Daniel

    I was in India a few years ago and the Government was talking up a space program while people were living in the streets. Lot of G5s at the airport.

  7. jeb

    It’s a buying opportunity. The current gov’t made some anti-investment decisions and should be out by next election. The spread between the US and Indian currency will likely get smaller in a big way soon.

  8. anonymous

    Jeb, you are going to get your face ripped off!! Are you saying that a new government is going to do a better job than the current one? That is completely naive since historically all Indian governments have been basket-cases. India is one of the most corrupt places in the world to do business already. In fact, it is a way of life there and if you do not play that way you are quickly run over. There are plenty of other places in the world to invest in and my crystal ball is telling me that expansion into emerging markets and direct foreign investment is going to dramatically slow down in light of what is happening in Europe (and Asia). Remember, when we print dollars we are exporting our inflation to the rest of the world. The rupee is toast.

  9. jeb

    @anonymous – Thanks for the concern. No plans to invest directly and I’m not suggesting the rupee will spike, but instead believe the spread will narrow. India is a neck ahead of the US in the corruption race, but it’s currency was doing much better before some recent Indian gov’t anti-business blunders. When everyone’s buying, I always consider selling and vice versa.

  10. anonymous

    Dear Chris, Is this PC day at FWIW? I guess you thought my post (kumar does not work at 7-11 anymore) was offensive. I did not see it that way and thought it was on par with “if you don’t mind sticking your Filipino below ground.” By the way, What I said is true. And what about my compliment to Greenwich Gal? It is almost impossible to compliment her intellect or debating skills. She is obviously proud of her boobs (i.e. her ted kennedy post). I think that would have made her day! Anyway, it is your blog and you are the boss so censor away if it offends your sense of decorum.