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India's economy faces ominous 2018
News, Mihir Sharma, Published on 09/01/2018
ยป You'd think the Indian economy had returned to rosy health. It seems to have recovered from two enormous disruptions -- Prime Minister Narendra Modi's decision just over a year ago to withdraw 86% of the currency in circulation, and the poorly-planned rollout in the middle of 2017 of a new goods-and-services tax. Exports are no longer declining, as they had for several quarters; indeed, for the last month that data is available, they rose 30%. The Purchasing Managers' Index expanded the fastest it has in five years. At least one international ratings agency has upgraded India's credit rating.
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