February, 2023 (updated May, 2023)
This is a good lens to look at India's economic life cycle with. The economy is in its phase of "focussed growth" where gov't actions will make or break the economy and players in it. Second, the country narrative is important. We're seeing this with "India's economic decade".
As I’ve said before, the credit cycle that’s going to fuel growth was always going to have to be initiated by the government directly because of this exact phenomenon. India’s equity risk premium needs to be attractive enough before private and foreign capital starts flowing in.
What’s a better example of “country narrative” than this, where the world’s most prominent leaders are announcing transactions between private corporations. Have Biden and Macron ever announced orders for Boeing and Airbus before this?
Another very factual take on how India’s moment at the world stage has arrived (this time for real). A strong foreign policy like this is part of the “country narrative” that leads to private foreign investment (business leaders take comfort in this), ultimately accelerating economic growth. Our next target - pushing for a permanent UNSC seat.
