Foreigners and foreigners

The continuing collapse of the India story is generally supposed to have taken its toll of foreign investors’ optimism. Yet not all foreign corporations are the same. Asked about subdued growth and other issues on the sidelines of an event in Mumbai recently, a senior official with a storied foreign bank commented that the “media might not believe in the country, but we believe India has great potential”. His company’s belief and optimism were unchanged, he added. On being asked why, he pointed out that, perhaps, his corporation had the benefit of perspective, and an institutional memory of times that were much more difficult: “We have been here for the last 150 years. We will be here for the next 150 years at least.”