India consolidates

India is set to become a financial powerhouse within the next 15 years. By Nitin Jain, principal fund manager, Kotak Mahindra (UK) Ltd

In 2009, the Indian economy faced a bad combination of credit crisis followed by a poor monsoon season, yet has held up relatively well compared to other markets. The Indian stock market grew nearly 100% in the calendar year 2009 according to the MSCI Index, outstripping China which grew 59%. Of the Bric nations only Brazil performed better, growing more than 120%. Recent advancements coupled with the ability to weather the economic storm lead us to believe India will consolidate its position as one of the world’s economic powerhouses by 2025. India’s GDP growth, in our view, should r...