27 Dec '16, 9pm

#bitcoin

NOIDA, India — Over the past two years, this suburb of New Delhi mushroomed into a flourishing enclave of small cellphone manufacturers, attracting tens of thousands of workers from the countryside. Noida, known as the “handset hub,” was touted as a showcase for Prime Minister Narendra Modi’s pet “Make in India ” initiative. Then on Nov. 8, Modi’s government took a step that has jolted the bustling industrial quarter. It scrapped high-denomination currency, with a view, officials said, to curbing illicit wealth and the financing of terrorism. But the cash shortage triggered by the move has also curbed legitimate small enterprises. Many of Noida’s manufacturing units have slashed production by nearly half, and more than a quarter of the workers have gone back to their villages. “It was a booming sunrise industry before November 8th. Not now,” said Vipin Malhan, president of...

Full article: https://libertyblitzkrieg.com/2016/12/27/indias-prime-min...

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cointelegraph.com 21 Dec '16, 10am

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