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Strategies & Market Trends : India Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (734)	2/25/2005 7:37:45 AM
From: tom pope	Respond to of 2517

The victory by the Congress party in May initially fueled deep concerns among businessmen and investors, because of the party's reliance on a coalition of leftists to form a government. India's financial markets crashed in the days following the vote, as coalition politicians talked of funding employment-guarantee plans and scrapping the country's privatization ministry. But Prime Minister Manmohan Singh and Mr. Chidambaram generally have received credit for continuing to pursue economic change. In recent months New Delhi announced a raising of investment caps in the aviation and telecommunications sectors. The government also moved to liberalize India's banking sector and foreign-investment procedures. I think that is the real news there, Sam. I'm old enough to remember when Harold Lasky and the old London School of Economics were the intellectual homes for the Congress Party. Their current pragmatism is a very pleasant surprise.