Full Circle for the Indian Economy

Life has come a full circle for the Indian Economy. I was reading a certain article by one of renowned Indian Investor, he had to say the above. I must've been too small then but the article said that there was a day when we had to pledge our gold to borrow foreign exchange in early 1990's.

That was a day and today's one when the Securities and Exchange Board of India (SEBI) is trying as hard as it can to control the inflow of foreign funds into India. With every 1000 point gain in the index from 6000 to a whopping 19000, investors and traders curiously asked if this was it and contemplated that soon the markets would head for a crash.

However, the Foreign Institutional Investors must have had a different opinion. They just kept on and on pumping in money into India through different vehicles, making the Sensex reach where it did a few days ago.

Finally, the SEBI had to come in and play a party pooper when they said that they will curb the issuance of Participatory Notes (I hope I got the lingo right) - in lay man terms, make sure that there is a strict control on the monies that come in from abroad.

Bottomline - the signs are all good - Money coming into India, talented Indians coming back home, new businesses springing up, better jobs in India. But....but....but....all of the above are happening at such a rapid pace (almost haphazard), that it all seems a bit scary!

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