India

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I have not been a big fan of decoupling theory, it is difficult to believe that in this globalized world one or two countries remain unaffected by what is happening across the glob. More so when the economies of the countries are reasonably open and exports are not only big revenue creators but also biggest job creators.

I was amazed with the results of most of the Indian companies. Most of them irrespective of which sector they are from have not only been able to generate healthy profits, most of them have given better results then what markets were anticipating. Even the industry growth data published in the news papers yesterday seem to suggest that the growth is back on track.

I am no way suggesting that we have gone back to the pre-correction levels of economic activity but we surly are not deg-rowing not even stagnate, in fact we look to be in a healthy shape and growing at a reasonable pace.

After looking at this encouraging data I believe that what happens to developed markets will impact India, and one might have to readjust his portfolio a bit depending on the effect of this turmoil on different currencies and few specific industries. But India will grow and outperform most of the markets on the back of a very strong internal demand.

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