India poised for a US$1 trillion economy

India is poised to go from a US$ 1 trillion economy to not just a 2 or 3 trillion dollar one, but in fact something far greater. If renowned investor Ramesh Damani is to be believed, that is the mouthwatering fate that awaits India over the next few years. In fact, he had many other interesting views to share in a recent interview with a business news channel, including his opinion that in one generation's time, we will take the population of India from affliction to affluence, from poverty to prosperity, would probably go from 100 m people in the middle class right now, to 1 bn people in the middle class, thus having profound implications for investors and companies alike.

All in all, he believes that the way the market has snapped back suggests that the recent fall in the market was just a very severe correction in an ongoing bull market, and that Indian markets are now on the cusp of a multiyear bull run.