Nibbling at the edges

Investment guru Barton Biggs once gave some sage advice to a young man working for one of the high-street banks in the US. And that was not to waste good news in bad times. But that seems to be lost on India's policymakers. On the first day of the new year, they sought to make a big splash of a policy initiative that entails allowing qualified foreign investors (QFIs), including individual foreign investors, to buy Indian stocks directly . 

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