With several swift acquisitions in a short span it will have to start to deliver results, which means using the India advantage on technical capability to show value.
This phase happens every 10 years. For instance, in the 90's, Japan was the happening market and a Japan strategy had to be in place. With the high inflation levels and saturated markets abroad, India's consumption story is real and comforting.
We feel all the ingredients are in place for (rapid) economic growth. We are confident of India achieving growth of 8-9 per cent in (the year to March 2007).
India has moved from being a small car to a Ferrari.
Everyone was wrong on how much liquidity there is in the market.
I can't comment on the short term situation. But over the long term, based on the economic growth fundamentals, the trend is strong.
The markets could correct up to 20 percent over the long-term. I'm not looking at any more levels. There is enough risk on the downside.
