Economic TimesLean R·
Fairfax chief Watsa bullish on India boom
New Delhi: Canadian billionaire Prem Watsa’s $5.6 billion bet on IDBI Bank is backed by the conviction that India is in the midst of a sustained economic boom that will continue over the next decade, he said in an interview. Indian-origin Watsa is chairman of Fairfax Financial, which has received government nod to buy a 60.72% stake in IDBI Bank, the first such majority investment by a foreign entity in a government-backed lender. With this investment, India becomes the biggest country exposure…
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