Deals within deals

What connects an acquisition in the Cayman Islands, falling sales of Honda City cars and a new airport in the Delhi metropolitan area? That may resemble a Freakonomics question, but is actually revealing of a fundamental ailment of the Indian economy. Policy is so unpredictable here that investment decisions and bets on the future are not standard risks but blind gambles.To overcome them, companies either under-invest in capacities or over-charge consumers, often both.

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