NEW DELHI: Foreign merchant bankers and fund managers are bullish on India, saying economic reforms are attracting a surge of investment and spurring growth.
“There’s a dramatic surge of interest in India,” Christopher Reeves, chairman of Merrill Lynch Europe Lid, told a two-day conference on India’s economy.
“India is in a stage of lift-off,” said Paul or of i “The Indian economy has changed gears end the world is now looking at us with interest,” T.M. Vakil, chairperson of the Export-Import Bank of India, told the conference organized by Euro money magazine.
Merchant bankers said India’s economic reforms, launched in mid-1991, were attracting considerable international interest as decades-old socialist controls were dismantled and the country integrated with the international trading system.
Fund managers said the country had sources, even though bureaucratic controls continued in some cases to stifle enterprise and corruption was widespread.
Article extracted from this publication >> April 1, 1994
