Morgan Stanley’s Stephen Roach shares his learnings from his first trip to India.
First impressions are superficial almost by definition. But more often than not, they end up pointing you in the right direction. Quite simply, I was blown away by what I saw on my first trip to India. It’s a land of great contrasts, to be sure — strength in human capital and technology coexisting with backward infrastructure and heart-wrenching poverty. But there is no doubt in my mind that the balance has shifted. After decades of stop and go, the critical mass of a new approach to Indian economic development now appears to have been attained.