Has India's economy lost its way?


Cliff Waldman, senior economist
The global spotlight has been on the troubled Indian economy in recent weeks as investors fear that a plunge in the rupee will evolve into a destabilizing financial and economic crisis. The current turmoil is partially a function of broad emerging market difficulties but also reflects unique growing problems brought about by an inefficient regulatory regime, a shortage of skilled labor, widening fiscal and current account deficits and poor economic governance. Nonetheless, while the moment is indeed troubling for India, U.S. manufacturers need not worry about a repeat of the severe 1991 balance of payments crisis. Issues in Brief

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