Investor Presentaiton

Reform supporting India's solid expansion GDP growth $ billion Announced greenfield FDI projects $ million 100 100 2° 00 % 80 80 7.8 8 7.6 Average project size (right scale) 80 7.4 60 7.2 00 60 7.1 6.6 40 6 20 40 20 40 40 20 4 2 0 2010 Index 60 50 50 2011 2012 0 2013 2014 2015 Project value (left scale) Purchasing Manager's Index Manufacturing indicates expansion indicates contraction 2013 2014 2015 2016f 2017f f = forecast Q1 Services 2016 40 Jan Jan 2013 2014 Jan 2015 Jan 2016 Aug 50 YEARS ADB 8

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