Has the time come to reconfigure the famous BRIC acronym? If above chart is any indication, it has perhaps. As the chart shows, by logging in two consecutive quarters of high GDP growth rates than India, the emerging market of Indonesia has staked a strong claim to take India's position in BRIC. However, we believe that these are early days yet and any hard conclusion cannot be reached by relying on just six months worth of performance. If the Government of India undertakes some bold reforms like it has done recently, the position of 'I' in BRIC is more or less secure we believe.
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