India is the most popular destination for overseas portfolio investors to park their fund in the Asian region for 2010. It may be a signal of increasing confidence in the Indian growth story, when the rest of the world is struggling to fight the recession. Bloomberg data shows that foreign institutional investors (FIIs) have purchased domestic equities worth $13.7 billion in 2010 till date making it the only Asian markets to have received more than $10 billion of investment this year. It is 56% higher than corresponding period of last year.
This year, FII investment into India is over 57% higher than that of South Korean, which remains at the second slot in terms of overseas investment followed by Indonesia, Taiwan, Thailand, Philippines and Vietnam among others. Interestingly, higher amount of FII investment has flowed into India despite the fact that domestic equities are commanding a relatively higher PE against its regional peers. While Nifty of NSE is trading at a PE of 19.36, it is 13.66 for South Korea, 4.16 for Indonesia, 14.98 for Taiwan and 14.61 for Philippines. As regards, future FII inflows into India will depends on the second quarter numbers, which would give a cue into the future earnings trajectory of India Inc.
04/24/13 - New Delhi: The improvement in performance of agriculture and manufacturing sectors is expected to boost the economic growth rate to 6.4 per cent in 2013-14 from 5 per cent during 2012-13, according to Prime Minister’s Economic Advisory Panel. “Economy will grow at higher rate from now. We projected growth [...]
04/10/13 - The indian government wants to extend the agreement with Mercosul tariff preferences with the goal of increasing bilateral trade to $ 25 billion by 2015. This information comes from India’s Commerce Minister Anand Sharma, who yesterday (8) in Geneva revealed that his government is considering submitting a new proposal to Mercosur partners for the meeting [...]» More events
05/23/13 - Hyderabad: The Rajiv Gandhi International Airport in Hyderabad is set to offer ‘visa on arrival’ facility, following an approval from the Centre. International passengers travelling through the airport can now have a more convenient transit with this new offering. Visitors from 11 countries will be eligible to get a visa on arrival with effect from [...]» More news