With the world economy as a whole feeling the pinch of inadequate final demand, India’s domestic demand-driven growth seems compelling. However, this growth is not an unambiguously positive factor as regards the risk-reward balance of investing in India because, along with its many benefits, growth also fuels high-level corruption. This sobering reality is highlighted by the 2G wireless spectrum saga which, together with some other major corruption scandals, is presently roiling Indian...
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