One of the richest men in the world is Lakshmi Mittal from Arcelor Mittal of India.
So I don't think the India story is dead but have to say that the politics is so different. Democracy v Autocracy. Beijing says make it so and the Indians are probably still arguing about it. China is flavour of the moment.
Also I think that there isn't such a class problem in China as there is in India (a generalised comment) eg casting as opposed to peasant farmer which relatively speaking has a higher status. Therefore there are a lot more people in abject poverty in India
So the problems are quite different. I think China recognises that they have to develop the whole country and any inequality will become a large problem. India on the other hand probably are aware of the problem but a bit slow on the uptake.
These are the things that are slowing India down I think whether real or perceived. Once they sort that lot out the expansion should progress at a better clip.
Cheers BW
ARH Price at posting:
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