Investing In Indian Infrastructure

I have been a vociferous critic of India's infrastructure story. I don't deny that India has a chronic deficit of infrastructure and that investing in Indian infrastructure should be a lucrative opportunity. However, my concern has been with the manner in which investors got carried away by the Indian infrastructure story and with the financial shenanigans committed by India's so called infrastructure companies. More...

VALUEx India On 3rd November In Mumbai

The second VALUEx India will be held in Mumbai on 3rd November.

VALUEx is a unique concept in the world of investment conferences. It is not sponsored by anyone and is not for profit so it does not have a commercial agenda. It is based on principles of TED conferences - ideas worth spreading and peer to peer learning.

India is a paradise for value investors. It has a few thousand listed companies that represent almost all sectors of the economy. Company owners and managers understand the concept of minority equity ownership and the country has a well developed institutional and retail investor base. India is also a uniquely high growth market with a population of 1.2 billion, half of which is under the age of 25. More...



Government Intervention And Black Markets

India recently doubled its import customs duty on gold from 2% to 4%. At the current price of INR 31,000 per 10 grams of gold, the import duty works out to INR 1,240 per 10 grams.

Until 1992 gold imports into India were restricted by the Gold Control Act 1962. In 1992 the act was abolished and free import of gold into the country was allowed with payment of customs duty at INR 250 per 10 grams. Gold imports went up from nothing to 100 tonnes. As the price of gold started increasing, the duty remained fixed and was futher brought down to INR 100 per 10 grams in 2003. More...