indian economy a macro health check post the em sell off rohini malkani citigroup com 91 22 5631 9876 mumbai see disclosure appendix for analyst certification and other disclosures august 2006 1 tel email presentation path shifting global environment impact of on external account fundamentals appear intact despite asset volatility investment pick up likely to continue consumption plenty potential given under leveraged consumer trends in outsourcing track key risks liquidity needs close monitoring interest rate scenario widening current its exchange rates infrastructure could be an impediment higher growth employment india s demographic dividend or dilemma 2 what has changed recent raises concerns embi spreads vs fii inflows 220 170 120 70 20 30 80 130 180 230 sep 03 oc t 0 3 ja n 4 ma r y jul 04 nov
