Aug
16
Lost in Fight Over India’s Interest Rates: Household Savers
By
While Indian Prime Minister Narendra Modi has racked up thousands of air miles seeking to woo foreign investors, tapping funds at home is just as crucial.
India’s savings rate is at a decade low of 31 percent of gross domestic product, weighed down by sputtering growth and Asia’s third-fastest inflation. Modi needs to get it back up to 35 percent of GDP to fulfill the nation’s economic potential, according to HSBC Holdings Plc…
Lost in Fight Over India’s Interest Rates: Household Savers
