Marc Faber outlook for the Indian Market

Marc Faber : Markets have peaked out and I think we are in a correction period. We had a huge move in India from the lows in 2009 to the recent highs, and we are coming down now. We may drop another 10-20%, who knows? Longer term I am reasonably positive for the Indian economy or very positive for the Indian economy. But what disturbs me nowadays are less economic factors than geopolitical factors because the friendship between India and America has been renewed and expanded and that is a threat to China and so China is getting closer. They have always been close to Pakistan and that creates a new set of tensions. We could have a lot of volatility in asset markets as a result of geopolitical trends. " - in ET Now 24 June 2011