India's economy is on the rise, expanding by almost 9 percent last year alone. It has more people than any country except China, and its population is young and growing fast. Yet investing in India carries "political risk" -- the chance that an investment will be harmed by, say, a change in government, institutional interference or corruption. For much of its modern history, in fact, India has been hamstrung by a bureaucratic, centrally planned economy riddled with corruption. Overbearing business regulation and a nearly institutional tradition of bribery are so woven into the economy that they've taken on a collective nickname, License Raj, or bureaucratic rule.