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Overseas analysts bullish on Indian economy
Mumbai: Overseas analysts are now bullish on the Indian economy. An analysis by Bank of America and Merril Lynch has upgraded our FY10 capital inflow projections by $14 billion, on a mix of receding international risk aversion as well as domestic political risks.
The institution feels that India may bottom out by
end-09. “This leads us to hike our growth forecast to 6.3% in FY10
(from 5.3%) and 7.3% in FY11 (from 7.1%). We have also grown more
confident of our long-held twin view of BoP risks overdone/medium-term
constructive INR outlook. This, in turn, has led us to push our FY10
BoP outlook up by US$14bn. Risks: monsoon, US$100+/bbl oil.’
