FIIs continue to favor India; inflows to rise post June: StanC

China has lowered its gross domestic product (GDP) growth rate target to 6.5 percent for 2017 from last year’s estimate of 6.7 percent as it prepares for a moderation. David Mann of Standard Chartered said the new target is not dramatic and stability must be the number one objective for China. There is a lot less panic in markets about where the growth risks lie, he said. Speaking of India, Mann said the change in RBI's monetary policy stance -- from accommodative to neutral -- has been interesting. The Reserve Bank is now sounding less dovish and GDP numbers are looking good. "Foreign community looks at India favorably," he said, adding, growth for the country might be difficult in rising rate scenario in the Unites States. Hard cash will start flowing into India post-June as more investment opportunities will open up in emerging markets then. The news of North Korea firing 3 ballistic missiles into Japanese waters could cause a knee-jerk reaction, he said.Watch video for more.