Despite the turmoil in the global financial markets and reduction in the number of deals in the current year to date over the comparable period last year, the private equity market in India continues to provide positive indicators. In H1 2008, the average rating given by private equity managers to the long term growth prospects of the Indian private equity market is 8.5, which has marginally decreased from the rating of 8.6 in H2 2007. Valuations and competition concerns have been replaced by macro economic and infrastructure challenges on respondents’ list of the biggest market hurdles. A majority of the respondents said that the global credit crunch has no real impact on the private equity investment market as leverage is low in India.  Read on...