India as a Rising EM Powerhouse

Kojo Andani: I want to switch gears now and talk about a theme that we've been really developing in our research and on the podcast over the course of this year. And that's around India as a rising EM powerhouse. So do you have a general view on India's growth outlook? And what does that mean for EM when you're thinking about the transmission channels? Philip Bostick: We haven't come to consensus yet because when it comes to India, there are so many different factors. The India story has come up at least three or four times over the last decade. It's never really happened.