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| Millenium India Acquisition Corporation (Nasdaq: SMCG) currently owns 14.75% of SMC Global, one of India’s top financial services companies. SMC Global recognized $13.4 million in net income in FCY 2007 from revenue of $34.3 million, a net profit margin of almost 40%. India represents one of the world’s fastest growing economies, with a population over 1 billion and over 300 million in the middle class, a number likely to expand rapidly. Less than 5% of household savings are currently invested in the financial markets as compared to 55% in the US and foreign investment is expected to exceed $28 billion in FY 2008.
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