The economic woes of India that have caused the stock market there to hit a three-year low may be on the verge of changing, as the country’s Reserve Bank welcomes a new leader to assist the country in escaping its doldrums. Under the watch of the Reserve Bank of India’s previous Governor Duvvuri Subbarao, the nation’s economy has been weak and unrewarding to investors.
But hope now is on the horizon.
The new leader of India’s central bank is Raghuram Rajan, a U.S.-educated former International Monetary Fund (IMF) chief economist. His appointment could be good news for investors in the WisdomTree India Earnings Fund (EPI). The outgoing governor of India’s central bank has been accused of monetary missteps, a problem that should not plague Rajan, who showed his astuteness when he previously warned that the 2003-2006 U.S. housing bubble was unsustainable.
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