A lot has changed during the past year. Those who have participated in many Indian and emerging markets funds have made considerable money on their investments -- in some cases astronomical year-on-year returns.

The "BRIC" countries (Brazil, Russia, India and China) have now become part of growth folklore. India has an estimated 9.2% GDP growth for the year ended March 31, 2007. These things suggest we could be a little less shrill in our advocacy. Accordingly we have removed considerable material from this page and left just a few salient comments.

For example, see the India Brand Equity Foundation's ("IBEF" -- of India's Ministry of Commerce and Industry) web site IBEF. It is worth reading. It is up-to-date and commercially oriented.

Other Good Reading. "The World is Flat, a Brief History of the Twenty-First Century," a best-seller by Thomas L. Friedman -- to understand modern and changing India it is a must read. "Flat" means a world-wide level playing field.

Edward Luce's "In Spite of the Gods, The Strange Rise of Modern India," published by Little, Brown, is a compelling narative by a long-time student of India.

"India, An Investor's Guide to the Next Economic Superpower" by Aaron Chaze, published by John Wiley & Sons (Asia) Pte. Ltd. is an excellent catalog of growth sectors.

International Company Roster. Well-known multinational companies entering or expanding operations in India, including prominent India-based companies: 3i, ABN Amro, Accenture, Acer, Russia's AFK Sistema, Airbus, Air Deccan, France's Alcatel, Dubai's Asian Broadcasting, AMD, American Airlines, American Express, Anglo American, Asahi, Ascott Group, AT&T, Sweden's Atlas Copco, Austrian Airlines, Avis, Aviva, Azure Integration's Blue Box, Bank of America, Barclays, Bausch & Lomb, Bentley, Bharti group, BHP Billiton, Aditya Birla group, BMW, Boeing, Bosch, Virgin Atlantic Airways Chairman Richard Branson, Brinks, Britannia, British Petroleum, Time Warner's Business 2.0 magazine, Cadence, UK's Caparo Group, Capgemini, Cairn Energy Plc, Canoro (a Canadian gas and oil producer), Caritor, Caterpillar, Cisco Systems, Citigroup, Citroen, Cognizant Technology Solutions, Colgate Palmolive, Corporation Bank, Whitbread plc's Costa Coffee, Daimler Chrysler (both autos and trucks), Dataquest, De Beers...

...Dell, Delta Air Lines, Detroit Diesel, DHL Express, Dr. Reddy's, DuPont, EDS, Electrolux, Ericsson, E*Trade Mauritius, Ferrari and Maserati, Fiat, Fidelity, Ford, Four Soft Ltd, Franklin Templeton, General Electric, GE Consumer Finance, General Motors, Goldman Sachs, Australia's Goldstream Mines, Google, Haier, Hay Group, HCL Technologies BPO Services Ltd, Heinz, Henry Scheil, Hershey, Honda, Hertz, Hewlett Packard, Hexaware Technologies, Hindalco (Aditya Birla), Switzerland's Holcim, Honda Motors, Honeywell, HSBC, Hutchison Whampoa, Hyatt, Hyundai, ICICI Bank, ICICI Onesource, IBM, i-flex (Oracle bought Citigroup's interest in July 2005), iGATE, IMAX, Infosys, Integreo, Intel, JB Chemicals and Pharmaceuticals Ltd., Joy Mining Machinery, Klaus Steilmann, Kyocera Wireless Corp, Lamborghini, Larsen & Toubro, Lehman Brothers, Korea's LG, Lionbridge Technologies, Lloyds TSB, Lockheed Martin, L'Oreal, Lucent Technologies, Lufthansa, M Corp Global, Germany's MAN (truck manufacturing in joint venture with Force Motors), Manpower, Marsh & McLennan, Maruti, Mastercard, Maverick Jets, MCI Worldcom, Canada's McPhar Geosurveys Ltd., MetLife, Michelin, Microsoft, Mitsubishi, Moody's, J.P. Morgan Chase, Motorola, Britain's National Rail, the Netherlands' Newfields Holdings, Nestle, Nike...

...Canada's Niko Resources (a gas and oil producer), Nissan, Nokia, Nortel, Oracle, UK's Orange, Oriental Bank of Commerce, Patni Computers, PepsiCo, Philips, Pilkington Plc, Polaris, Porsche, Korea's Posco, Proctor & Gamble, Prudential, PSA Peugeot Citroen, Qantas, Randox Laboratories, Red Hat, Reebok, Reliance Industries, Reuters, RIM's Blackberry, Rio Tinto, Rolls Royce, Royal & Sun Alliance, SABMiller, St. Gobain, Samsonite, Samsung, Novartis' Sandoz, SAP, S&P, Satyam Computer Services, Scotiabank, Shell, Siemens, Singapore Technologies Telemedia, Skoda, SNC Lavalin, Sony, Germany's Springer Science+Business Media, Standard Chartered (Scope Intl.), The Sun Group (Sun Capital Partners), Canada's Sun Life (with Aditya Birla), Sun Microsystems, Suzuki Motor, Israel's Taro Pharmaceutical Industries, Tata Consultancy, Tata Steel, Tata Motors, Tata's VSNL and other Tata companies, TCS, TD Capital, Tekelec, Telstra, Singapore's Temasek, Texas Instruments, The Timken Company, TM International, Tommy Hilfiger, France's Total, Toyota, TVS Motors, UBS, Unilever, United Airlines, Vedanta, Visa International, Volvo (both autos and trucks), Wal-Mart, Warburg Pincus, Wella, Wipro, Xansa, Yahoo and Yashica.

(AEN, updated April 29, 2007)