‘Wall Street Wolf’ evermore at the Indian door? A new Buy out of India’ trend risked without a Modi government

There is a US-led hegemony that Indians need to be wary of as explained in a previous piece in this paper, by this author.(US led financial hegemony Oct. 6)

- PETER DASH

It is a key component supporting, if not pushing US exceptionalism and, in a sense, US geopolitical priorities over much of the world, including trying to do so with India.

It has become even more evident in recent weeks and more pressing due to upcoming elections, that without care, and the right, current leadership remaining in place, this hegemony will one day come to be a tail that wags many key decisions in New Delhi, as it now does elsewhere. And this outside financial mass power could lead to huge economic problems for most Indians.

Importantly, there is a major shift developing of money from Wall Street, and to some extent European finance moving away from China to India - or simply having a greater preference for the latter. Beijing is seen as overly authoritarian, excessive as a security threat and having gained too much power over strategic supply chains. Therefore, more democratic India, better aligned to the developed world with its Indo-Pacific strategy is Western finance’s greater favorite for lending and investing. This is also more a given with India being,a highly populated market, fast-growing and a low-cost manufacturing center. So far good.

While this apparent proIndia investment trend facilitated by the Prime Minister Narendra Modi-led government, can provide the nation benefits, there are important lessons to be learned.

All of such will help India avoid many pitfalls that have devastated much of the world at times by irresponsible New York (and London) led global finance including banking.