India out of Brexit relatively well |
Jim Yong Kim, who heads the world Bank, was in India on June 30 to sign, among other things, a $1-billion loan for solar power. he said India has moved from 54th place to 35th place in just two years between 2014 and 2016 on their logistics performance index. The Doing Business ranking has improved from 142 to 131. Now, more FDI is coming into India than China.Solar is going to be important for a lot of reasons. The cost of solar is going down dramatically. There is tremendous uncertainty. India came out relatively well. The UK went through two downgrades from triple A to double A. You don`t see that very often. Uncertainty causes certain things to happen that are bad for developing countries. We have been watching that developing countries are having much more difficulty accessing capital and now it is going to get worse. India is the bright spot.
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