My thanks to a subscriber for this informative CNBC interview with JPMorgan Chase & Co's Hong Kong-based chief Asian and emerging market strategist. Note: it appears just after a short discussion on some Indian cement companies and is considerably more detailed than the interview posted yesterday.

David Fuller's view Adrian Mowat's views are in line with those of Fullermoney. His point that we know all about what has gone wrong in India is particularly apt. This should spur reform and better governance on a 'needs must' basis. After all, there is no mystery in terms of the changes that India needs to institute. India's stock market would respond quickly to a further monetary stimulus, let alone evidence of improving governance.