India is No.1 destination among BRIC nations: Christopher Wood

Discussion in 'Economy & Infrastructure' started by cobra commando, May 19, 2014.

  1. cobra commando

    cobra commando Tharki regiment Veteran Member Senior Member

    Oct 3, 2009
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    Mumbai: Christopher Wood, equity strategist at Hong Kong- based securities house CLSA Asia- Pacific Markets, says the landslide win for the Bharatiya Janata Party (BJP) in the general elections bodes well for India, and the Indian stock market. In an interview on 16 May, Wood said the clear mandate has given India’s prime minister in-waiting Narendra Modi a chance of effecting real change during his five-year tenure. India is now best placed among the BRIC (Brazil, Russia, India and China) countries due to internal and external factors, argues Wood. Edited excerpts: How do you view the results and the BJP’s landslide victory?
    I was already “double overweight” on India. I have raised the rating a little bit more today because the election outcome was better than the base case. I’ve been “double overweight” on India for the last six months or more on the growing likelihood, based on all the polls, that the BJP would win a decisive mandate, giving it a chance to have a reasonably effective government. It got an outright majority—that is unexpected—and this is extremely positive. In my view, it gives Modi a chance of effecting a real change in the course of a five-year government. The thing of concern last year for many people, many investors, who visited India was that the election would result in a weak national government, which would be held hostage by the narrow interests of regional parties. This is the best possible outcome you could imagine, and it is very important that it is a big, decisive majority because India is a federal structure and, therefore, chief ministers of individual states have significant power.

    Read more here:
    India is No.1 destination among BRIC nations: Christopher Wood - Livemint

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