What 700 Million People in the Dark Says About Investing in India

For years now I've preferred China over India. When invariably asked to compare the two as investments, my answer has always been the same. Somewhat tongue -in-cheek, I'd point out "that India has trouble keeping the lights on from one end of the country to the other." Little did I know that those comments made in jest would actually become reality. Earlier this week, a massive power blackout left more than 700 million people without power in India as not one, but three, regional electrical grids failed. If that isn't a glaring sign that India isn't ready for prime-time I don't know what I can say to make you see the light - pun absolutely intended. Don't get me wrong. There are clearly a few select Indian companies worth the risk. But as a whole, the scope of this power failure suggests India has a long way to go before it achieves the global superpower status it seeks and a dominant position in your portfolio.