Nov. 28 (Bloomberg) -- What a difference a couple of months
can make. In September, India’s growth rate had slowed to its
lowest in a decade, inflation was high, and the rupee ranked as
one of the worst-performing currencies in Asia.
Suddenly, the mood has turned more upbeat. The news media
brim with confidence that India has “turned the corner.” The
stock market rose more than 9 percent last month, to an all-time
high. A few weeks ago, Finance Minister Palaniappan Chidambaram
said he saw many signs of “green shoots” in India’s economy.