A Spicy Asian Play

India's tech sector is looking red-hot

Ullal Bhat, the Indian fund adviser for Jardine Fleming International Management, used to feel ignored. At the company's annual meetings with investors in London, the few clients who sought him out usually stuck to questions about India's poverty, bureaucratic corruption, and its obsession with nuclear weapons. But this January's meeting was different. Bhat's four funds, including the New York Stock Exchange-listed Jardine Fleming India, boasted triple-digit returns last year, and the meeting room was packed. "I never felt more popular," says Bhat, who fielded questions about startup companies and India's infotech boom.

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