Numbers do not always tell the whole story. But they are revealing nonetheless. In 2013, direct investment transaction volumes in India’s commercial property sector stood at around US$1.3 billion. By contrast, in China (excluding Hong Kong), investment activity reached US$27 billion. In South Korea, transactions stood at US$12.2 billion, data from MSCI shows. The woefully low level of investment in India – a leading emerging market that at the time was already the world’s third-largest economy...