Published: November 1, 2010
As you will see from the letter that follows, Rafiq is keenly aware of the difference in perspectives between those inside, and outside, of India, and his current view will help those trying to form their own (perhaps revised) strategies to get it right. It is not too surprising that India, like China, is feeling a sense of increased nationalism and pride, even as the country may be unwilling to take the diplomatic role the Obama administration is hoping for it.
Even though China is now India’s largest trading partner, it seems clear to me that India is looking far and wide for leverage outside this fraught relationship, and finding it. Investors and managers will need to find their own solutions, perhaps with a bit of guidance taken here.