What events and trends make India such a compelling place to search for investment opportunities?
India stands out as one of the fastest–growing economies in the world. Goldman Sachs projects India’s GDP growth at 8-10% per year over the next 5 to 10 years and also projects India to be the third largest economy in the world by 2050. That growth is from a small base. In traveling to India, it’s evident to me that India could very well follow the economic development path of China. This is exciting because India’s growth is more accessible than China’s was; with India, there’s an opportunity to invest. Further, the Indian stock market is very large, with a market cap of approximately US$1.7 trillion, as measured by Morgan Stanley. We’re really looking at substantial changes in India itself due to GDP growth. Much of that growth comes from domestic consumption, that is, growth within India itself. This growth is not as linked to U.S. or global growth as many other export–driven economies. Indian incomes are rising and leading to increased consumption; the population is moving up the v
