India is on a much better footing now

Kunal Kundu, India Economist, Societe Generale, on what makes India a bright spot amid gloomy times and why it can’t afford to be complacent. Excerpts...

What are the fears arising from events like Brexit?

This is indeed a genuine concern. Brexit in isolation may not be a big challenge. In fact, if this forces the European elites to have a rethink on their strategy, undergo necessary reforms and focus toward stamping out the shortcomings that the current construct of the European Union suffer from, then the overall effect of Brexit maybe indeed be positive in the longer run. However, there’s a ‘but’ in between and that is the challenge. If countries fail to see value of remaining within the union they might think Brexit was a right move. And in that case, Brexit may be just be the beginning.