Let's not rain on his party.
FYI, farhan_9909, the Indian economy's recent modest growth is hardly a 'secular' trend, much less so its stock market performance. Among the several push forces in play since late last year, investors have been shunning India because of their outside-in view of world markets. India is not Japan or Europe, or for that matter, Pakistan, that present structural problems. The long term outlooks on equity and debt-markets are both positive, because of India's demographic and directional advantages.
The real risk is policy paralysis. And if you look closely, that has been mitigated somewhat with the spate of economic reforms in the past few months: retail, aviation, subsidy and sourcing rationalization to name a few. Give it a few months, and you'll see the Govt. debt situation, a large factor in the long-term sequestration of IFIs, reform. The key is sustaining that confidence so that regulatory flakiness and uncertainty over implementation don't creep in.
And while we're on the subject, may I just mention that your Govt debt ain't lookin' too rosy either.
The KSE might own the title of 'Best Performing Stock Exchange in S Asia' this month, but that doesn't take away from the fact that your long term fundamentals are weak, or that yours is a far smaller market capitalization than any of India's, still robustly performing, stock exchanges.