Old Indian economy lives on


Things are looking up in India. Growth will top 7% this year, foreign exchange reserves are a record US$93bil and the country has grabbed a quarter of the fast-growing market for outsourced service jobs. 

Yet in Firozabad, a run-down glass-making town 240km south of here, India looks anything but the budding economic giant that has prompted investors to drive the key Bombay share index up 42% so far this year. 

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