Today, the US became the leader of the world with 240 million consumers. If India with a population of 1.2 billion, can manage to have 400-500 million consumers in a short period, they too can be the leaders of the world's consumer market.
Why are you so convinced that India can withstand the hit?
Hits are also of different types. If there are bankruptcies, then naturally they will knock the doors of the developed world.
But, India has a very good track record. India has never defaulted on any of its payments, and I don't expect the country to default ever.
India knows that when it borrows money, it has to return it. It does not expect it to be written off.
Image: A man hands out leaflets for a jewelry store | Photograph: Stan Honda/AFP/Getty Images
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