The historic role of Bombay (as it was then called) as a hub for banking, commerce, trade, and shipping, and its financial clout a 100 years ago, are little known today. With the city scheduled to soon open an international financial services centre, it is worthwhile to recall and integrate this legacy with Mumbai’s present strengths in order to attract global capital to its IFSC
The economic mismanagement by the ruling UPA in the past few years – by putting politics and polls ahead of economy and prosperity, and slavish obedience to political masters – has created an environment of crisis and desperation in India. Where did the country’s so-called economic ‘dream team’ go wrong?
The U.S. economy is recovering, and the dollar strengthening, the lack of which has been behind much of the Global Financial Crisis over the past four years, and one that is largely responsible for the slowdown in China’s manufacturing. This is not a crisis, it’s a rebalancing, and the same is true for India.