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Bromance Between Obama And Modi And Other Drivers Fueling India's Bull Market

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India's Prime Minister Narendra Modi and President Barack Obama's bromance has unified the world's two largest democracies. The two intend to visit each other more and have even created a Modi-Obama hot line - an unprecedented means of communications between the two countries. A fortified India-U.S. partnership will increase trade between the two countries, benefiting foreign investors and Indian citizens alike. All the while, free falling oil prices is saving the South Asian country billions of dollars in government subsidies. Given that government capex is at multi-decade lows, more work is likely to flow to government contractors.

During Obama's late January, three-day visit, he and Modi agreed to work together in developing jet engine technology, small-scale surveillance drones and aircraft carriers. The two also plan to cooperate on equipment manufacturing for Lockheed Martin Corp.'s (LMT) C-130 transport plane. Three quarters of India's arms imports have come from… Read More …