Pursuits
Globetrotting Modi Cements Outlook for Rupee to Top Asia Returns
- ABN Amro says more open economy will counter Fed rate rise
- Rupee bonds lead gains in Asian local-currency debt this year
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India’s rupee is forecast to outperform its Asian peers as Prime Minister Narendra Modi travels the world to woo investors and opens up the region’s third-largest economy.
Modi, who faces criticism at home for making 30 overseas trips since taking office in May 2014, has won about $160 billion in pledges for loans and investment from companies including Vodafone Group Plc and Hyundai Motor Co. He also eased restrictions on outside involvement in 15 industries before traveling to London and Turkey last week, with Malaysia, Singapore and Paris next on his itinerary. Foreigners are buying more Indian debt after the central bank relaxed curbs last month.