A pedestrian walks past a mural outside the Buddh International Circuit, near New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)
Why do a few emerging economies enjoy a virtuous cycle of higher investment returns driving increasing global capital allocation; while others like India get stuck in a quagmire of stagnating Return on Capital Employed and increasing external capital dependency? Is it a question of having a ‘scarcity’ versus ‘abundance’ mindset?