Indian stock market crashed 1,408.35 points – the result of tagging Indian economy to that of US – can India Inc. survive?
Benny Solanki
Jan. 21, 2008

Indian politicians must be blamed for what happened. The Great depression of India is the happening. Pm Manmohan Singh and Finance Minister Chidambaram’s tagging Indian economy to that of America and Europe’s has started backfiring. An economy cannot survive on incoming Foreign Direct Deposit and importing jobs from US and Europe in the name of outsourcing. Tata’s new car nano symbolizes the state of Indian economy and India Inc. There is no road to drive on but the car is ready based on borrowed western technologies. Tata should have concentrated developing a decently priced Hydrogen car than the nano to dazzle the Americasns.

The stock market in Indian finally crashed. It has nothing to do with the Indian economy. It is the effect of fiscal mismanagement by the American and European financial institutions and securitization of home mortgages in America and Europe. The lack of liquidity creates the nasty environment for Great Asian depression.

Indian stock market crashed 1,408.35 points. Investors in India have lost over 300 billion dollar (Rs 11,85,285 crores) in the last six days. The finacial shake up is rteal. Indian banks are refusing any more loans due to lack of liquidity.

Like all other economies, before prosperity India will have to go through a period of deep depression and loss of wealth and confidence. It happened to US in 1929-33 after massive boom in stock market that was really false.

BSE 30-share index recovered partially to end the day at 17,605.35, a net fall of 7.41 per cent from Friday's close.

The NSE Nifty closed down 496.5 points or 8.7 per cent to end at 5,208.80. Sensex has fallen 13.97 per cent this month, with most of the losses coming in the last six sessions.

Indian stock market crashed 1,408.35 points – the result of tagging Indian economy to that of US – can India Inc. survive?
Benny Solanki
Indian stock market crashed 1,408.35 points. Investors in India have lost over 300 billion dollar (Rs 11,85,285 crores) in the last six days.
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