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While in the mid-2000s the Indian economy took off on a China-like trajectory with four years of above 9% growth, the downturn of the world economy since 2008 has led to serious doubts on the resilience of the Indian model. Apart from a growth rate which could fall below 6% in 2012, the essential question is whether India can tackle the structural challenges resulting from globalisation, whose future itself is more than uncertain and pessimistic. Financial questions are at the forefront of these challenges.
