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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: bob s who wrote (52557)	3/19/1999 8:20:00 AM
From: Cynic 2005	Respond to of 132070

Bob, a lot changed in Indian economic scene. Just 10 short years ago it was an economy largely dependent on Govt spending. People craved for Govt. jobs. Consumers borrowing to buy on credit is very rare. If one bought or built a house, a significant majority of the dough came from savings or liquidation of other assets. Private sector could not get the kind of lift from the consumer they would like. So, the economic cycles were not well defined back then. Now things have changed. A good many of them are borrowing to buy goods. The economy has prospered from foreign investment and "body shopping" of programmers to the West. The domestic demand is strong. Must be growing stronger than any other Asian country. Yet, a serious economic setback in the West should hurt Indian economy. That is JMO. However, I belive that India will recover much faster than many other SEA counterparts. May be I am biased as I am Indian or may be it is the way it is. I will be going to India in July. This time, I intend to do a lot of research for investment purposes. I will report back here when I have something concrete to say.