Modi govt, China curbs making Indian industrial firms world's best

The nation has also pledged to spend $88 billion this financial year on roads, railways and other infrastructure

Indian companies are dominating the ranks of the world’s best-performing industrial firms as they benefit from neighbouring China’s pollution crackdown and billions in domestic infrastructure spending.

Of the 15 best-performing stocks over five years, eight are from Asia’s number 3 economy and range from graphite electrode makers to equipment providers. Companies such as HEG Ltd., Graphite India Ltd. and Finolex Cables Ltd. have benefited from China’s pollution control measures as well as India’s pledge to electrify even the remotest village, said Gopal Agrawal, portfolio manager at Tata Asset Management Ltd., which oversees $3 billion in equity funds.