Capital markets maintain their buoyancy

India’s capital markets have started the year on a high note. Despite worries about the weather and high oil prices, the economy is expected to have grown by 6.9% in the year ending this month. Small but significant steps have been taken towards economic reform in recent months.

After a long negotiation with its allies on the left, the United Front government finally raised the foreign direct investment limit in telecoms companies to 74% from 49% and recently opened up real estate to FDI.