Emerging markets veteran Mark Mobius believes India is still in a position to prosper despite the horrific incident that took place this week in Mumbai. Bloomberg’s Rishaad Salamat and Pooja Thakur wrote earlier today:

India’s first terrorist attack against foreigners has done nothing to dent Mark Mobius’s confidence in the stock market of the world’s second-fastest growing major economy.

Mobius, executive chairman of San Mateo, California-based Templeton Asset Management Ltd., says any stock declines may be short-lived as India’s economy is still “vibrant” and the Bombay Stock Exchange Sensitive Index is valued near the cheapest level on record relative to profit…

“It’s a fast-growing economy and we can’t allow this kind of incident to sway our decisions regarding where we want to invest,” Mobius, 72, said in a Bloomberg Television interview from Hong Kong. “India will rise from this and prosper.”

Source:

“Mobius Still an India Bull After Attacks; Sensex Rebounds”
Rishaad Salamat, Pooja Thakur
Bloomberg, November 28, 2008

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