The Indian economy is estimated to have grown by 6.7 per cent in 2008-09. According to the latest Central Statistical
Organisation (CSO) data, financial services, banking, insurance and real estate sectors rose by 7.8 per cent in the third
quarter of 2009-10.
The government has taken a number of steps in recent months to revive the economy, including slashing interest rates,
lowering factory levies and more than doubling the limit on foreign investment in corporate bonds. The financial services
space is a rapidly growing one in India.
As per the Securities and Exchange Board of India (SEBI), number of registered FIIs as on March 29, 2010 was 1710 and the
cumulative investments in equity since November 1992 to March 29, 2010, was US $ 76.74 billion, while the cumulative
investments in debt during the same period were US $ 11.85 billion.
The average assets under management of the mutual fund industry stood at US $ 174.06 billion for the month of February 2010,
an increase of nearly 36 per cent from US $ 111.55 billion in February 2009, according to the data released by Association of
Mutual Funds in India (AMFI).
Funds raised by the Indian corporate sector via ADRs / GDRs has jumped over 33 times from around US $ 101.72 million in 2008 to
about US $ 3.50 billion in 2009.
Furthermore, with economic outlook on Indian as well global markets being positive, PE funds are closing deals more speedily
than last year. The merger and acquisition (M & A) activity has shown similar momentum, with domestic deals ruling the charts.
PE funds closed 29 deals in January 2010 compared to only 16 during the same period last year. The value of such deals saw a
significant jump of 303 per cent, from US $ 309 million in January 2009 to US $ 1.24 billion this year.
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