Overseas Update
India. The second wave of Covid hit India hard this spring. Yet the Indian economy rebounded at a record rate in the Second Quarter. The +20.1% year-on-year growth is being attributed to looser pandemic curbs and more activity (all of this is in comparison to the same April-June quarter in 2020, which posted a -24% year over year growth rate.) The economic reemergence has been obvious looking at the Indian market; it’s up 20.5% year-to date through August 31. Experts are op