| Two possible interpretations:
1 India's new government is returning to its socialist/communist roots thus building roads and social programs.
If I have made a mistake re Indian politics my apologies working on the assumption the BJP was right of centre the new government is left of centre.
2 They really don't want to hold USD's.
If the second case is true and the next largest developing economy besides China cares not for the USD it is a major development. In particular the support the USD gets from its role as a reserve currency. |