Giving India the Power to Move Forward

CRISIL's executive director says the country's infrastructure woes need to be addressed quickly -- and money must be backed by reform

The world continues to marvel at India's growth story -- and with good reason. The economy has delivered roughly 8% annualized jumps in gross domestic product over a three-year period that started in April, 2003. Indian stock prices are soaring. Savings and investment are at record levels. And though the Indian government confronts some real fiscal challenges going forward, a strong balance of payments surplus and some $140 billion in foreign exchange reserves provides a nice buffer against any conceivable external shocks such as a sudden slowdown in the global economy.

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