Investors are taking an interest in Indian stocks as "high-risk, high-return" investments gain favor in a country where interest rates are virtually zero, stock prices seesaw and deposit protection will soon be curtailed.
The aroma of Indian curry recently wafted through an office conference room in the high-rise Coredo Nihombashi building, where more than 70 people, including sales managers from Japanese brokerages and banks, were attending a luncheon seminar on Indian stock investment trust funds hosted by Merrill Lynch Japan Securities Co.
Naganath Sundaresan, the president and chief investment officer of DSP Merrill Lynch Fund Managers Ltd. in India, told the gathering that India's economic growth is expected to continue, pointing to continued upgrading of infrastructure, including expressways and railroads, and consumption that is being driven by the middle class.