India’s economy is among the fastest growing in the world. Wall Street can’t ignore India anymore. The point of entry is Mumbai, a port city of 26 million people, counting its suburbs.

“Moreover, India is enjoying the attention it is getting from the US and its allies as a partner in their efforts to checkmate China, which is asserting its presence around the world as a global power ...

The optimism, however, may not be a reflection of India itself. Viral Acharya, the former deputy governor of the Reserve Bank of India and currently an economics professor at the New York ...