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India escapes the worst of emerging markets misery

It is poised to become fastest-growing G-20 economy yet old problems persist, with Modi's promised reforms stalled

Next to its fractious emerging-market cousins, politically stable India looks positively glowing, named by the IMF as one of the few "bright spots" in the world economy.

New Delhi

THREE years ago, India was the weakling of the emerging markets clan, politically stagnant and struggling to grow - but as gloom engulfs other developing economies, the subcontinent is enjoying a moment in the sun.

Brazil and Russia lie deep in recession and South Africa