Until recently, India saw itself as an emerging economic powerhouse, the next China so to speak. Those delusions of grandeur led to complacency and the end-result is that GDP growth has slumped to a ten-year low. Most investors are now writing India off as an economic and political basket case. For Asia Confidential, that spells potential opportunity. While India has many problems, they're unlikely to get much worse from here. At 13x forward earnings, with a cyclically low earnings base, the India market looks reasonable value.
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