alas, ananth may be right. this may explain the extreme bullishness exhibited by goldman sachs.
on the other hand, the big ibanks entering india is good news. it means they expect massive growth, and what's more, they'll talk things up so that such high growth does occur. also remember that the treasury secretary poulson is a former goldman sachs guy.
---------- Forwarded message ----------
From: Ananth
To:
Perhaps, this is a partial explanation for the latest bullish report of GS on India wherein they project an annual average GDP growth rate of 8% in India, up to 2020.
Regards,
Ananth
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Financial Times
Goldman joins rush to provide services to India
By Joe Leahy in Mumbai
Published: January 10 2007 02:00 | Last updated: January 10 2007 02:00
Goldman Sachs is poised to begin stockbroking and advisory services in India, joining a growing number of international investment banks that are either expanding operations in the country or starting from scratch.
The bank, which has spent much of the past year building a new team after splitting with local company Kotak Mahindra Bank in March, received licences for investment banking and stockbroking operations in the country in December.
It has so far hired 60people for its investment banking, securities trading, asset management and private equity businesses. India has been attracting growing interest from global investment banks because of a boom in its equity markets and rising interest among its companies in overseas mergers and acquisitions.
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Regards,
Ananth
---------------------------------------
Financial Times
Goldman joins rush to provide services to India
By Joe Leahy in Mumbai
Published: January 10 2007 02:00 | Last updated: January 10 2007 02:00
Goldman Sachs is poised to begin stockbroking and advisory services in India, joining a growing number of international investment banks that are either expanding operations in the country or starting from scratch.
The bank, which has spent much of the past year building a new team after splitting with local company Kotak Mahindra Bank in March, received licences for investment banking and stockbroking operations in the country in December.
It has so far hired 60people for its investment banking, securities trading, asset management and private equity businesses. India has been attracting growing interest from global investment banks because of a boom in its equity markets and rising interest among its companies in overseas mergers and acquisitions.
... deleted
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