When green? India has come a long way economically since the 1980s, but IMF forecasts still place the country in the ‘middle-income’ trap for the balance of this decade.
An October 2010 Delhi billboard advertising the Coal India IPO.
The majority of India’s new cohort of retail investors have just encountered their first meaningful drawdown. This could radically change the red-hot sentiment of recent years. Could Indian savers end up flocking back to their first love, gold?
1 Crore = 10 million Rupees (I still have to double check every time)
The mini rally we have seen in the past 3 weeks certainly feels fadeable. USDINR reversing and trending towards 88.50 to 90 by year end does not feel implausible in my view. USDINR, daily chart
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