Corporate investments are still to show a long-awaited recovery
Business leaders prefer to cheer the economy than invest because capacity expansion isn’t urgent
Nowhere did Sachin Tendulkar get more crowd support than at Mumbai’s Wankhede Stadium. Spectators would show their appreciation of the maestro by shouting “Sachin, Sachin" at the top of their voice. The CEOs and promoters of Indian firms have been trying to show similar support for India’s economic potential by loudly chanting “India, India" at every given opportunity. The trouble is that their money is not where their mouth is.