Bullish Aberdeen Hails India’s Potential With or Without Rajan

The rupee rebounded from its biggest drop in a week as Aberdeen Asset Management Plc said it remained bullish on India, underscoring optimism the nation will continue to attract foreign investors even if central bank Governor Raghuram Rajan leaves when his term ends in September.

While Rajan’s leadership at the Reserve Bank of India has been important in re-establishing the nation’s credibility, the economic reforms delivered by the government have been “equally if not more critical for encouraging the transition,” Kenneth Akintewe, senior manager at Aberdeen Asset, said in an interview. The financial health of the world’s fastest-growing major economy will keep investors interested in rupee bonds, according to Pacific Investment Management Co., which oversees about $1.5 trillion.