Biz people

Mobius leads return to India

Mark Mobius is leading a return of fund managers to India as the nation's biggest banks say demand for cars and homes will help them ride out a global recession.

"Domestic industries can build high profits and growth," Mobius (below left), 72, who manages more than $24 billion in emerging- market assets as executive chairman at San Mateo, California- based Templeton Asset Management Ltd, said. He is buying Indian consumer-related stocks.