It is a very big myth that Indian valuations are expensive; balance sheets are the best I have seen in 32 years: Madhu Kela

“There is a more certainty of earning in India. You can take a case that ICICI Bank will grow at 15% or 25% but it will certainly grow. Can you make the same case with HSBC Bank? You do not know where the provision will hit, where the bond yield will hit but you can make a certain case for the largest bank in India that whether you grow 15% or 25%, growth will be there. ”