With 1.1 billion residents, the world's largest democracy is poised to dominate the world stage. One of India … behind India's meteoric rise. India is not just software, outsourcing, and faraway call centers. With the economy soaring at … 8 percent a year, India is a medical and pharmaceutical frontrunner, an R&D powerhouse, a rising manufacturing hub, and …

unprecedented widening of India’s current account deficit in terms of the sectoral savings-investment balance. Persistently … financial savings. The second chapter investigates inward and outward spillovers to and from India. The results show that output … shocks emanating in globally-systemic countries have important global effects, but their impact on India is limited. Shocks …