India's 15-year-long economic boom has enthralled the world. Lately speculation over bubbles and a bust has arisen as the Indian government struggles to keep a lid on inflation. Warnings have also come from the Organisation of Economic Co-operation and Development about risks from over-regulation in India. Kaushik Basu, a professor of economics at Cornell University in the US and the chief economic advisor to the Indian Ministry of Finance, has joined the debate about opening sectors of the Indian economy, in particular, retail. Basu admits he's also spent a disproportionate amount of time wrestling "the inflation monster", but he's doubtless that India's growth is an ongoing story.