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Divya Guha Profile picture
Divya Guha
@divyaguha
Associate editor @StoriesAsia/Journalist/dogma-hating+finance+political economy+subcultures//Wire.in, Open, Mint/WSJ, Scroll, Print, Sky, BBC//insta:divyaguha
Nov 1, 2019 • 19 tweets • 4 min read
#mysteryofIndiasvanishinggrowth It's paywalled, so the hi-lites: I discovered whr a large part of India's growth vanished. #longtweet
opening fact: Institutional investors, eg US private equity funds/their local mgrs, route finance to India through offshore countries eg Singapor eyeopening fact (IMPORTANT): Conventionally the overseas debt is 1st accounted for as equity until, like all loans, it comes up 4 repayment @ which point it goes on the books as debt. These loans are bonds, whose full technical name is the compulsory convertible debenture-CCD.