Citi economist lists three steps to attract foreign capital to India

Samiran Chakraborty, Citi's India chief, has said India needs to stabilise the rupee, build resilient global supply chains and sustain credit growth to extend the capital expenditure cycle to attract foreign investment. In an exclusive conversation with Shweta Punj, Chakraborty said India must consistently communicate its story of growth, macro stability and political stability while building a stronger global narrative around its artificial intelligence opportunity.

The Wire offers a contrasting view, reporting that the steps taken by the finance ministry and the RBI to stem capital outflows are unlikely to succeed given the large differential in returns between Indian and foreign stock markets. The Wire article notes that Finance Minister Nirmala Sitharaman recently called critics of the economy "fear-mongerers" creating a "cynical narrative," while the RBI flagged India's resilience. The outlet argues that rising prices, gas shortages and falling employment have hit the poor hardest, and that free-market policies are unlikely to correct the situation.