The reforms initiated in 1991 have transformed India's economy and enabled teh capital market to assume a larger role in the allocation of capital. India's economic reforms have aimed at improving the nation's productivity which is most likely to create investor wealth in the long term. But, the pace of reforms has been slow due to continual political uncertainty. The book offers a comprehensive assessment of the developments from an investor's viewpoint. The potential of India's stockmarket is examined as the country progresses with economic liberalisation. Six years after reforms, the Indian stockmarket represents no more than ten percent of its economy. In attempting to forecast the future direction of India's stockmarket, the book analyses the factors that influence it, from reforms in macroeconomic and trade policies to developments in industrial, agricultural, financial, infrastructural and social sector policies since 1991. The book examines to what extent India has been successful in providing a pragmatic set of policies to support the private sector ands with it the potential growth of the stock market.
This exclusive analysis of India will be of interest to students and policymakers as much as to anyone interested in investing in one of the major markets to have emerged from its seclusion and opened itself up to global investors.