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Indian Prime Minister Narendra Modi will extend his strategic global tour to South Korea this month, selling political and business leaders on the viability of his reforms and his commitment to opening the doors for greater foreign investment. Modi will visit South Korea on May 18 to 19, immediately following stays in China and Mongolia. In addition to meeting with South Korean President Park Geun…
Foreign investors are flooding into the high-yielding, low-volatility Indian bond market in anticipation of interest rate cuts resulting from declining inflation. So far this year, the Reserve Bank of India (RBI) has made two interest rate cuts amounting to 50 basis points (bps), with another 25 bps cut expected on June 2, 2015 when the RBI is scheduled to hold its next policy meeting. Gains…
Rick Rossow, senior fellow and Wadhwani Chair of the Center for Strategic and International Studies, headquartered in Washington DC, says the first year in office for India’s new BJP government is one of the best on record in terms of liberalization and economic reforms.Appearing before the U.S. International Trade Commission, Mr. Rossow said he believes the Modi government has done an excellent job in opening…
Presented by: Ashish Kela, Fund Manager, Birla Sun Life Asset Management Company Limited ("Birla"), Sub-Advisor of the Excel India Growth and Income Fund. As the new majority government, led by Prime Minister Modi, delivers on business-friendly reforms attracting foreign investment from major countries and multinational corporates, global investors have been investing in Indian equities in expectation of accelerating economic growth and strong corporate earnings growth.…
Three global rating agencies, Fitch, Moody's and Standard and Poor’s, have recently raised India’s outlook, putting the country on track for further rating upgrades. Below is a summary of the rating agencies comments on India.   Fitch Rating Outlook – April., 2015 Broad based structural reform agenda has brought dynamism back to the Indian economy New government policy initiatives to bring the investment climate in…
India in a Sweet Spot Cyclical recovery has begun Macro imbalances have been reduced External environment expected to remain benign, particularity the outlook for oil Structural reforms are in progress under the new government Overall, Goldman Sachs remains positive and recognizes India’s “favorable demographics and the scope for catch-up from a very low base in investment, infrastructure and productivity”. In their report, they state that…
Many emerging markets have delivered significant returns this year, far outpacing the major indices in Canada and the United States. In mainland China, for instance, the Shanghai Stock Exchange Composite Index has surged 38 percent year-to-date, or 42 percent when you factor in China’s rising currency against the loonie. Korea, Taiwan, the Philippines, even Russia, have all posted double-digit gains since January for investors using…
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Hear commentary directly from Excel Funds’ analysts, portfolio managers and on-the-ground sub advisors and gain insights on where the investment opportunities are in the emerging markets today. http://www.excelfunds.com/index.php/exlegi-webcast-april-27th The Excel India Growth & Income Fund Managed by: Excel Funds Management Inc Su-Adviser: The Birla Sun Life Group As the new majority government led by Prime Minister Modi delivers on business-friendly reforms attracting foreign direct investment…
The Modi administration proposes to put an end to the controversial retroactive tax actions which have frazzled foreign investors. Finance Minister Arun Jaitley stated that the bill on retroactive taxation, that was passed in 2011, prior to the current government coming to power, will be renounced in the interest of encouraging foreign investment. In an article in the Financial Times, Mr. Jaitley stated that he…
April 23, 2015 - Thirteen percent of Canadian exports are now directed to emerging markets, up almost threefold over the last 15 years, and it makes good sense for domestic companies to continue that trend, says the head of Export Development Canada. “Companies in all sectors should look ahead and follow high-growth markets,” said Benoit Daignault, the chief executive officer of EDC, Canada’s export credit…
The global rating agency Moody's, believes that emerging economies in the Asia Pacific region, including India, are resilient to external shocks. According to the rating agency, "Asia Pacific sovereigns generally exhibit strong external payments positions and government debt profiles relative to peers elsewhere in the world - factors that should stand them in good stead." India is experiencing “accelerating GDP growth, improving fiscal and monetary…

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