India, the second most populous country in the world, faces one of the most volatile times in its recent history. A torrent of funds has fled emerging markets since May but India has been particularly vulnerable as it faces significant headwinds, from a gaping 4.8% current account deficit to its elections next year.
The Indian rupee has been hard-hit, depreciating by close to 20% against the dollar. The Indian government has been trying desperately to stem the tide of outflows, but Indian companies feel that the government ought to move with more alacrity and are calling for swifter action.
Large exporters such as London-listed Vedanta Resources, for...
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