The ruling government has destroyed the Indian economy with its arbitrary decisions. And sometimes the get the judiciary to chip in as well.
The first real disaster to the Indian economy was the billions in retroactive taxes that were applied to telecoms. And then the attempt made by the government to break through the corporate firewalls and extract that money from foreign parents. That hit FDI immediately.
That was followed by demonetization, extremely poor rollout of GST, a terribly executed lockdown and subsequent reopening, and now the arbitrary control over Chinese companies when China is probably the largest private investor in India right now. All these things are hurting India with little benefit to show for, other than jingoistic support for the ruling party.
India is yet another example of “<Country> First” parties coming in and taking actions which undermine the absolute fundamentals of what the country is and damaging it and its citizens in so many ways.
Make life terrible for your citizens and blame China while looting your citizens left right and center is apparently a winning strategy in multiple countries.
The first real disaster to the Indian economy was the billions in retroactive taxes that were applied to telecoms. And then the attempt made by the government to break through the corporate firewalls and extract that money from foreign parents. That hit FDI immediately.
That was followed by demonetization, extremely poor rollout of GST, a terribly executed lockdown and subsequent reopening, and now the arbitrary control over Chinese companies when China is probably the largest private investor in India right now. All these things are hurting India with little benefit to show for, other than jingoistic support for the ruling party.
India is yet another example of “<Country> First” parties coming in and taking actions which undermine the absolute fundamentals of what the country is and damaging it and its citizens in so many ways.
Make life terrible for your citizens and blame China while looting your citizens left right and center is apparently a winning strategy in multiple countries.