Indeed, in the aftermath of the global financial crisis and resulting economic recession, these counter-cyclical prudential measures were rolled back to cushion the adverse impact of the crisis to considerable beneficial effect to the Indian economy.
But I admit that this ripple is a rather belated one. Charles de Gaulle once said: “There are no friendships between states, only alliances.” My personal experience is a different one. I believe that in the case of the US and Germany, our myriad personal and historical ties do translate into a friendship even in the public domain.