India may cheer an Iran deal, but peace in Hormuz won't refill its emptying economic tank

India might welcome an Iran deal, but peace in Hormuz won't fix our bigger problems. We're short on money and new ideas, which hurts jobs. As Kotak Institutional Equities noted, "a combination of high current deficits and large capital surpluses has historically sustained India's external accounts." This old way of funding is failing.