India's Banks Will Lend. Will Tycoons Borrow?
There's plenty of talk about how India's 600-million-strong workforce gives it a unique edge in the US-China spat over trade and technology. But to be the world's next factory, the most-populous nation will need a strong domestic investment impulse.
The data don't show any evidence of that. Nor does the authorities' response inspire confidence. When it comes to large, long-gestation projects, a handful of tycoons will do the heavy-lifting, and it will take more than cheaper borrowing costs to sway their decisions.
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