Sunday, May 18, 2014

Tsu-Namo “massive, massive positive” for India

Well we respectfully disagree, but then this is Jim O'Neill, former head of Goldman Sachs, so what do we know? Proof (if it is ever required) that Modi's victory is a victory for Wall Street and Dalal Street. Pankaj Mishra has got a juicy new quote (which will make his articles even more pleasurable to read). Its a win win situation!!!

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Modi’s Bharatiya Janata Party and its allies won about 61 percent of seats in parliament as voters punished the Congress party-led coalition for slowing growth, graft and Asia’s second-fastest inflation.  

If Modi pursues the anti-corruption policies he’s promised, India has the potential to grow about 10 percent annually for the next 20 years, according to Jim O’Neill, former chairman of Goldman Sachs Asset Management.

“This is the most positive development in India in 30 years,” O’Neill, who coined the acronym BRIC, referring to Brazil, India, Russia and China, said at the SkyBridge Alternatives Conference in Las Vegas yesterday. Modi’s victory is a “massive, massive positive” for the nation, he said. 
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Link: http://www.bloomberg.com/news/2014-05-16/modi-victory-spurs-optimism-india-economy-will-lead-bric-rebound.html
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regards