Solid management by the Reserve Bank of India, the country’s central bank, deserves much of the credit. The International Monetary Fund says India’s economy will be one of the fastest-growing in the world over the next few years. The strength of the country’s economy means the Reserve Bank of India hasn’t been under pressure to cut interest rates. Foreign portfolio managers have also made big bets on India’s stock market, investing a net $12.3 billion into India this year through mid-November. Analysts expect the change to lead to as much as $30 billion of additional foreign investment into India’s bond market.

Source: Wall Street Journal December 13, 2023 05:44 UTC