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Feature: India goes for gold in 2010
20 January 2010
The upcoming Commonwealth Games this year will help put a spotlight on the Indian economic growth, and boost infrastructure investment plans, says Nitin Jain, principal fund manager, Kotak Mahindra (UK).
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[India]
[Kotak Mahindra]
[growth]
[emerging markets]
Last year was the best year for Indian equities since 1991, despite the country being faced with a combination of the credit crisis and a poor monsoon season. Between July and September ‘09, GDP growth was recorded at 7.9%. The newly elected government brought a renewed focus on key areas such as infrastructure and the rural economy; and with continued buoyancy in the services sector and other areas of the economy, growth in GDP is expected to be around 8% in 2010-11.
Backed heavily by government legislation and plans to spend an estimated $500 billion over the next five years, it is expected that infrastructure developments will progress at a faster rate than ever before. The 2010 Commonwealth Games, to be hosted in New Delhi this summer, is a perfect opportunity for India to showcase the result...
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