The economic growth prospects is what is exciting people because this is what will flow to corporate earnings.

The budget undertone will be positive ... and there will be an upbeat message to aim for 10 percent growth in three years.

The second phase of development has started in India with GDP rate being ratcheted up to 7%-8% a year versus the 5.9% average of the last 10 years.

The second phase of development has started in India with GDP rate being ratcheted up to 7-8pc a year versus the 5.9pc average of the last 10 years.

The hurricane impact in the fourth quarter is going to be quite evident and people will look beyond that. Growth is still going to be solid in the first half and the market is slightly under-pricing the risk in Fed tightening.

In 2008, Nokia expects that 3 billion people will be owning a mobile phone, with much of this growth coming from markets like China, India, South-East Asia and Africa, where penetration levels are still relatively low.