Let us look at the future in terms of  6  BIS central bankers’ speeches  the other two. Of these, the top left-hand box appears at this point in time to be irrelevant.
It is difficult to foresee a situation for some time to come in which the Indian economy will be beset by problems while the rest of the world is doing relatively well. That leaves the bottom right-hand box, in which the Indian economy is experiencing favourable conditions, while the rest of the world is not.