An increasing number of international asset managers are setting up funds in India, attracted by a booming economy and a nation of savers.

With gross domestic product growth of 9.4 per cent last year and an expected growth of 8 per cent to 10 per cent a year over the next five to 10 years, according to Goldman Sachs, it is the fastest-growing economy in the region after China. Much of the growth comes from domestic consumption and is not linked to US or global growth, an attractive prospect for global asset managers in the fallout from the credit squeeze.