Indian Economy Poised to Bounce Back: CEO UTI International

DUBAI - The resilient Indian economy is poised to bounce back sooner than later, driven by declining prices of oil and other commodities and falling interest rates, according to Tarun Ghulati, the newly appointed Chief Executive Officer of UTI International Limited, whose responsibilities include the Gulf.

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Published: Sat 21 Feb 2009, 12:43 AM

Last updated: Sun 5 Apr 2015, 9:35 PM

“All current indicators point to an early recovery. This is, therefore, an opportune time for NRIs to explore investments in Indian Equity & Debt Mutual Funds that could yield attractive returns in the short and long term,” said Ghulati in a Press release on Thursday, who will be spearheading UTI’s global business through country offices in London, Dubai and Bahrain. “We expect the falling prices of oil and other commodities will help Indian Industries to reduce their overall cost of production, and the lower interest rates will fuel the growth in the huge consuming economy. The Indian economy is projected to growth at around 7 per cent, despite the global financial crisis, a barometer of the strong fundamentals of the Indian economy.”

Ghulati added, ‘UTI International, which has been active in Dubai for over 10 years through a representative office, has been helping Indians in the Gulf to invest in Indian Equity & Debt Mutual Funds offered by UTI Mutual Fund.”

· business@khaleejtimes.com


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