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'Commerce Secretary Rahul Khullar said in an interview on Wednesday that India faces a huge challenge securing the tens of billions of dollars in foreign capital it needs to finance its current-account gap. He said European banks that have traditionally financed Indian debt could cut back lending amid the Continent's economic woes, raising pressure on India to attract other foreign capital.

"That's the real problem," Mr. Khullar said. "Where is the capital going to come from?" '

I guess it's also the Europeans' fault that his government can't get anything done?

Yep, sure, absolutely.

The Indian gov't's scarily fast-reverse-speed maneuver on allowing foreign retailers in, and the current ideas about retroactively taxing foreign-firms M&A of their Indian interests in defiance of the Indian Supreme Court ruling against that (just to mention the last couple of disasters), have absolutely nothing to do with foreign investors' reluctance to risk money in India -- nope, nothing to see, move along!
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