“Overheating India” is the new cool…
First it was Davos, then the FT 
and now The Economist*
So I guess “Overheating India” is the new cool in circles where they discuss such weighty matters and amongst people who read the FT to work**
On the WSJ’s Davos blog: “Is India Overheated?” Balaji wrote a great comment in reaction to Stephen Schwarman (CEO, Blackstone Group)’s “outsider’s perspective”. But first the “outsider’s perspective” (as reported by Christopher Emsden):
“A couple of years ago, he said, his company decided to start investing in India. He liked India because it was a democracy, the legal system was well established, and the costs seemed low and the potential seemed high.
But when Blackstone tried to find an office in the commercial capital of Mumbai (formerly Bombay), the only space it could find was a hotel room. (”And I thought hotel rooms were for sleeping, not officing,” he said.) Employees, wired into the world, wanted wages competitive with what they would earn elsewhere. And even the investment climate seemed somewhat overheated, with high multiples. Land prices alone, he was told, are more than 10 times what they were 18 months ago.
“Overheated?” asked Mr. Schwarzman, who describes himself as a big India booster. “You decide.”
Here is what Balaji wrote in response:
