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India’s Big Defence Juggle: Great progress, more to be done

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I recently met a well-known financier in London who has invested over $500 million in India. When I met him last year, he was feeling apprehensive about his investments, feeling that his “Modi-bet” may not be coming off. His investments were stagnating, the bureaucracy was still finding its feet with the new political masters, and the outlook was patchy. This time, the mood had changed. He said he had just sold two companies in India, earning a staggering 55 per cent rate of return. Both companies had overflowing order books, especially for exports.
India was back in vogue. Read more…

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