Positive call on India; see earnings growth at 11%: Amundi

In a world where developed economies have failed to sustain any kind of strong economic growth stories, emerging markets (EMs) have emerged as the new safe haven for many global investors.

While 2011 saw a lot of underperformance from emerging economies, especially India, Ayaz Ebrahim of Amundi says there has been a fair amount of correction which has led to valuations appearing on the cheaper side. Investors are waiting for the volatility in global news to die down a little more, says Ebrahim, so that Asian EMs can look forward to some stability once again. He continues to remain bullish on our side of the world. He still sees long-term growth opportunities in India. With a bullish call on our domestically driven economy for the next couple of years, he says,