Thanks Dave and Dubi. One of the real problems with the Indian market is that up until recently the market was closed to people who are not citizens of India. The only way to get into the market is through ADRs, which means that you lose some of the leverage of investing in Rupees.
Joan: Don't if you are aware of the loss of chickens because of Hurricane Katrina. Over 1 million birds were killed. This should open up the market for pork in the short term. Some of the loss was in northern and western Georgia.
Bombay, 2 Indexes here in Bombay. One is the BSE Sensex 30 and the other is the Nifty 50. The former is quoting at about 17/18 times trailing earnings while the latter is quoting at about 18/19 times trailing earnings. The average earnings growth is expected to come in at about 15/18% this financial year and at about 12/15% next financial year.