Signs Of A Revival.

Federal reserve chairman Alan Greenspan's recent statement early March that recession is finally over and that the US economic recovery is ''already well under way'' is turning out to be prophetic. Instead of the 1 per cent growth predicted by US watchers for the first half of this year, most economists believe that the US economy is likely to grow at a much higher 3-4 per cent. Perhaps the biggest surprise, as some recent reports point out, is that the momentum actually points to faster-than expected recoveries in profits and capital spending, which were by far the hardest hit in the recession.

A strong US recovery should be music to India Inc.'s ears, especially …