India's appeal for investors dimmed but not derailed by conflict with Pakistan
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The latest conflict between India and Pakistan may impact New Delhi's efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil - but not much, investors and analysts said on Wednesday, as tensions ratcheted up between the nuclear-armed neighbours. India's $4 trillion economy has limited direct trade with Pakistan, and even its overnight cross-border missile strikes had little immediate impact on local equity, currency and bond markets, on the view that full-fledged conflict is unlikely. "If there is a cessation of hostilities like there should be, pragmatically and practically, the investment climate may not actually be harmed," said Ajay Marwaha, head of fixed income at Mumbai-headquartered investment house Nuvama Group. Previous conflicts have not had a lasting impact on Indian assets, Citibank analysts wrote in a note on Wednesday. In the last such flare-up with Pakistan, in Februa...