WEF experts give verdict on India's top investment bets

After being battered in the stock markets and downgraded by analysts and prominent ratings agencies, here is some good news for banks.

Experts at the first session of the World Economic Forum (WEF) India Summit being held at the Grand Hyatt in Mumbai said the financial services sector, which covers banks, non-banking financial institutions and gold loan companies, remained the best bet for investors seeking to play the India growth story in 2012.

Growth in the Indian economy is being driven by consumption arising from a confluence of factors: a rising middle class, increasing urbanisation and favourable demographics.

As a result, retail and consumer goods and financial services have been among the most favoured sectors for investors, said experts at the panel discussion entitled