The Financial Post reports in its Tuesday, Oct. 20, edition that Prem Watsa is betting that his Fairfax Financial Holdings' acquisition of IDBI Bank will pay off given India's growth prospects. A Bloomberg dispatch to the Post reports that Mr. Watsa says India's prime minister is going to make the country "more business friendly." He says, "You're going to get an economic boom in India for the next 10 years, I think, of very significant proportions." Fairfax's acquisition of a 60.7-per-cent stake in IDBI Bank highlights increasing interest in India's financial sector, as foreign investors aim to capitalize on growth in one of the fastest-growing economies. This deal ranks among the largest in the country's financial sector. The buyout significantly expands Fairfax's presence in India, where it already has investments in CSB Bank and IIFL Capital Services. IDBI Bank, once burdened by heavy bad loans, has emerged from a major cleanup, returning to profitability in recent years after capital support and aggressive recoveries helped it cut non-performing assets sharply. Mr. Watsa says Fairfax aims to ensure the fiscal integrity of the bank and the welfare of its employees.