Turns out -- Hollywood actor Richard Gere isn't the only American unable to contain his heated ardor for the finer things in India. From the female leads in Bollywood to the financial leads in Bombay, the US has swept India's stock market into its arms and sealed its commitment to its future with a big, wet, sloppy kiss.
The romance was solidified on April 23, when India's main benchmark index the Sensex soared past the psychologically important 14,000 mark for the first time in two months. Soon after, news broke that the BOOM was officially back in Bombay via data showing that India's economy expanded 9.2% in the fiscal year ending March 31 -- the strongest rate in over two decades AND one that puts the country on course to become the second fastest growing economy in the world. Since then, Wally-Street's fondness for India has been anything but discreet: A recent Time Magazine column quotes one high-profile emerging market investor as saying, "The Relentless Rise In India; it's like China 15 or 20 Years Ago." No cheap fling, mind you: In the last 36 months, foreign investors have poured $30 B-B-Billion into India's stock market.
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