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Once 'fragile' India gets thumbs up from foreign investors

India no longer resembles 'Fragile Five' country of 2013, when RBI was forced to raise rates

Reuters  |  Mumbai 

When Fed taper fears jolted emerging markets in 2013, India was one of the worst hit and was forced to raise interest rates to underpin its tumbling markets. Fast forward to this year, and history has been turned on its head. Not only is the US central bank raising rates, but India is widely expected next week to be the first country in Asia to cut policy rates this year. And rather than being concerned at India's falling policy rate premium over the United States, foreign investors are giving the country's markets the thumbs up. The rupee is rallying and the ...

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First Published: Fri, July 28 2017. 10:48 IST