FIIs bullish on India; strong $ won't affect market: Martin Wolf

Foreign Institutional Investors remain bullish on India after the US Federal Reserve raised interest rates by 25 basis points, says Martin Wolf of Financial Times. He sees no effect of the stronger dollar on Indian market.He says raising rates may pose a risk on the US economy as inflation rise has been minimal and productivity is yet to pick up. He would have favoured not raising rates by Fed now. But this rate hike is not very insignificant and may not derail the US economy.About India's demonetisation, he says it is a brutal tool and its implementation was not very good. He is puzzled by the government's move. The move was carried out without printing new notes to replace the old, says Wolf. In the short-term, he says the US dollar is going to be stronger than all the other currencies, including ones from developed economies.Watch video for more...