Economic doldrums mean that India is not much of a destination for global investors nowadays and the flight of foreign capital is depressing the rupee’s value to record lows vis-à-vis the U.S. dollar. Even domestic investors prefer to put their money elsewhere. The country was the toast of the 2006 World Economic Forum in Davos, with “India Everywhere” emblazoned throughout the conference halls and a Bollywood extravaganza staged as the main social event. But it was relegated to the sidelines at this year’s gathering.*
Nonetheless, as a series of developments in recent weeks prove, New Delhi is emerging as an important pivot point on Asia’s geopolitical stage.
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