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In April last year, then Reserve Bank of India (RBI) governor Raghuram Rajan described the Indian economy as a one-eyed king in the land of the blind. He was speaking in the context of India becoming the fastest-growing economy despite a gloomy condition around the world. A year and a half later, India’s macroeconomic indicators no longer seem appealing even as the world economy sees a strong rebound in both economic growth and trade.
“The recovery in India’s economic growth post the 2013 currency crisis wasn’t absolute but we were only better off compared to other emerging economies, which were
