Indian Equity – What has NOT Changed?
• Indian economy continues to grow at a robust pace – @ 9.3% for the latest quarter ended March ‘06
• Corporate earnings likely to deliver about 17%-18% growth for FY07E
• Government commitment on infrastructure development remains intact – ultra mega power projects, SEZs, urban development projects
• Outsourcing stories continue to remain strong – and spreading from services to manufacturing
• Domestic demand continues to be robust – impressive monthly numbers from auto and telecom companies
• Credit off-take continues to be healthy – capex cycle of companies accelerating
• Inflation remains under control – below 5%
• India continues to be one of the most attractive investment destinations – private equity participation on the ascent.
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