Published on Sat, Nov 21, 2009 at 11:11 | Source : Reuters
Updated at Sat, Nov 21, 2009 at 13:26
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
India on recovery trail, but challenges loom
India evaded the eye of the storm that sucked the global economy into the worst downturn since the Great Depression, and has emerged, along with China, as a leader of the nascent worldwide recovery.
India evaded the eye of the storm that sucked the global economy into the worst downturn since the Great Depression, and has emerged, along with China, as a leader of the nascent worldwide recovery.
The stock market has surged more than 70% this year, growth in Asia's third-largest economy is expected to be 6 to 7% this fiscal year and accelerate in 2010/11, and a rash of companies are raising billions of dollars to fuel expansion.
The rousing re-election of the Congress party-led government in May freed it from having to depend on communist allies, lifting hopes of an acceleration in long-delayed financial reforms and infrastructure investment.
