For more than four years now, the country has been struggling with six major macro issues: weak growth, high inflation, burgeoning current account deficit, uncomfortably high fiscal deficit, a weak rupee and policy paralysis. Barring the current account deficit, other issues remain; we don’t expect a macro turn as yet, but things seem to have bottomed out and the extended nature of any recovery provides interesting opportunities for the quality-focused investor, especially towards the second half of 2014.