US & Eurozone Crisis Likely To Benefit India

Standard & Poor's downgrading of US government debt from AAA to AA+ sent shock waves through the markets last week. Is it a sign that American economic conditions are worsening? Does it presage another 'Lehman moment' for the world economy? Will it cause a huge setback to India's growth prospects? Let me spare you the suspense and state my answers upfront: no, unlikely, no.