Salient to Investors:
William Pesek writes:
- Rampant political dysfunction has stopped India’s progress cold. India is in a self-destructive pattern of relenting on the big issues, then killing would-be investors with the details. The lack of transparency and reliability makes it virtually impossible to consider long-term investments in India.
- India is proving that size does not guarantee its inevitable rise. Only true economic reform, political openness and more proactive leadership will do that.
- Berkshire Hathaway last week surprisingly gave up on India’s insurance market after just 2 years, while Wal-Mart, ArcelorMittal and Posco are pulling back on investments in India. Foreign-direct investment fell 21 percent in the last fiscal year.
- 29 percent of Indians are under age 15.
Read the full article at http://www.bloomberg.com/news/2013-07-22/why-buffett-bailed-on-india.html
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