I have observed that India is almost fully coupled with developed markets. We sometimes diverge but that should be considered as noise, rather than any decoupling. Now, wiser heads are asying this. reuters runs a perort which says that emerging markets are correlated, but also:
"More significantly, the beta of emerging equities — measuring price fluctuations relative to developed markets — has fallen to one since the start of the year, suggesting that emerging markets now merely track developed markets. Gains are thus likely be modest even when global sentiment picks up."
In layman's words: This means that emerging markets will not outperform. They will move exactly as the developed markets do.
Sachs prescribes telescope over microscope
Jeffrey Sachs, Professor at Columbia Universitymajor and one of Time magazine’s “100 most influential people” recommends that our country takes a longer-term view in handling our problems. Instead of analyzing everything through a microscope, Sachs realizes that peering out over the horizon with a telescope may provide a clearer path to success versus getting sidetracked in the emotional daily battles of ideas.