Time to turn the tables?

Indian stock markets are in turmoil, thanks to current situation in the west with US,European Union and Japan facing recession.

Indian markets are classified as emerging markets and hence considered risky!! But are they riskier than the markets(considered developed) where capital is fleeing? Is US treasury bonds more attractive than our desi G-Secs?

We have for long depended on US and Europe for our growth. They grow, they consume so we grow. They provide capital for growth.

Do we need their capital or they need ours truely :) Household savings have increased and domestic market can be kept stable by local consumer demand and huge capital spends on infrastructure. Indian companies are buying abroad creating job oppurtunities or atleast saving the existing jobs abroad. They are providing cash to sick units and turning them around.

Now its time that we provide the support and stabilizing effect to the world finance. Foreign investors, instead of exiting can think this as oppurtunity here. We need to strengthen our markets from fickle incoming/outgoing capital.

In this globalized economy we can find succor locally in our less leveraged economy.