India has been the favoured investment destination in Asia: Mecklai Financial

MUMBAI: India has been the favoured investment destination in Asia, according to Mecklai Financial.

“The Indian financial markets have witnessed favouritism among the investing Diaspora compared to its Asian counterparts such as South Korea, Taiwan, Thailand and Indonesia” said the Mecklai Financial report.

On a year to date basis, India received flows worth $11 billion in equities and $4.7 billion in debt investments.

The second highest flows were received by South Korea to the tune of $6.2 billion.

“In the Jan-March period when the inflows were registered the USD/INR which was trading at 53.298 levels at the start of the year gained strength up to 48.56 levels by the beginning of March. That was a close to 7% appreciation in the Indian rupee,” said the Mecklai Financial report, “The USD/ INR pair could be helped to 52.50 levels with the twin deficits, stunted GDP growth rate and the economic quandary of Europe refraining the rupee from such levels.