India to sustain 10pc growth ‘for many years’
An Indian hedge fund manager has described his country as being in a sweet spot of economic progress, telling investors in the hospitality and real estate industry that India will be able to sustain an annual growth of 10 per cent for many years.
Investment level rose 40 per cent of the gross domestic product last year — a jump from 25 per cent five years earlier — while employment is growing at 2.5 per cent per annum, said Surjit S Bhalla, chairman and managing director of Oxus Investments Pvt Ltd. He addressed yesterday the opening of the fourth Arabian Hotel Investment Conference (AHIC), where he also noted the increasing number of urban women joining the labour force — to 18 per cent in 2005 from 14 per cent in 2000.
The hype about India is real, said Bhalla, who manages Dh91.8 million ($25 million) in the Indian equity market through his company in New Delhi. It is in a sweet spot of growth, and this can last another decade or two.
More : khaleejtimes.com