India outlook 'rosy' in anniversary year

Having delivered four successive years of above-8pc growth, the Indian economy is hot on the heels of China. Mahtani attributes this to a combination of changing perceptions and government reforms. And, while growth is set to moderate, the outlook is favourable, he says, driven by strong growth in domestic demand. Mahtani is also bullish on the Indian stock market. While earnings will slow to about 15pc by the end of this year, the outlook is healthy for the long term investor, he says. “Although company valuations are quite high at 18 times forward earnings, the Government’s commitment...