More brickbats than brics

Ten years after the acronym BRIC was coined, Goldman Sachs’ Jim O’Neill says, of the lot, India has been the biggest disappointment. He’s probably right because the Indian growth engine is sputtering when it should have been roaring. Instead of clocking what would have been an enviable 8% or even 8.5% this year, the country’s GDP will now grow by barely 7%; and if the government doesn’t move quickly enough on reforms, we could see it slip to an anaemic 6.5% next year.

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