Curtains go up on India Economic Summit

Curtains go up on India Economic Summit
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First Published: Sun, Nov 16 2008. 11 50 PM IST
Updated: Sun, Nov 16 2008. 11 50 PM IST
New Delhi: While there will be short-term pain, Indian companies will be able to weather the storm. That was the verdict arrived at by Indian and global industry leaders on day one of the Indian Economic summit in the capital on Sunday.
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Brooks Entwistle, CEO of Goldman Sachs, India, said that India remained a great value proposition and said that there were a lot of opportunities here. On the whole, India’s demographics made it the market for the future. Also, its growth rate of 6-7% was much better than the economies of either the US or the UK.
The results from the G-20 summit were keenly awaited. Almost all agreed for the need of greater financial coordination and transparency. There was an emphasis on greater capital market coordination as well.
The fourth and clear message given was that Indian companies were indeed well funded. ICICI’s KV Kamath said that liquidity was tight but Indian companies should be able to get funds going forward.
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First Published: Sun, Nov 16 2008. 11 50 PM IST