U.S. central bankers stuck to their outlook for gradual monetary-policy tightening after they left interest rates unchanged and showed no alarm over recent economic weakness.
He said, the house is positive on the India market from a long-term perspective and expect an 18 percent earnings growth for the next fiscal.
But the Federal Open Market Committee (FOMC) - the bank's rate-setting panel - said the factors restraining growth are likely to fade over the rest of the year.
"Inflation measured on a 12-month basis recently has been running close to the committee's 2 percent longer-run objective", according to the statement.
The Aussie eased in Asia on Thursday with trade data ahead and as markets looked ahead to end of the week nonfarm payroll figures following a Fed review on rates that might be key to confirm a widely expected June hike. Jobs growth also slowed sharply in March but the unemployment rate dropped to a near 10-year low of 4.5 percent.
James Sullivan, MD-Asia Equity Research at JPMorgan says the house to believes that Fed is unlikely to raise rates in this meet but will come out with a very balanced statement. "All eyes now on the minutes from the meeting and jawboning from officials in the coming weeks".
The Federal Reserve has taken the decision to keep interest rates steady, following a slowing in growth during the first quarter.
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"I don't think this data by itself will derail a June hike", said Vassili Serebriakov, FX strategist at Credit Agricole in NY.
Notable changes from previous statements indicated that Fed officials thought that "economic activity slowed" while "household spending rose only modestly".
Most economists have expressed optimism that the economy is strengthening in the current April-June quarter, fuelled by job growth, higher consumer confidence and stock-market records on promises of tax cuts and investment from President Trump.
The Fed "appears to be firmly on a policy normalization track and is not reacting to every piece of high frequency economic data", Levy said. The Fed simply repeated it plans to hold the balance sheet steady until "normalization of the level of the federal funds rate in well under way". It may decide against doing so, given that this meeting won't be accompanied by a news conference with Chair Janet Yellen to explain any shifts in the Fed's policy or thinking.
"Most participants anticipated that gradual increases in the federal funds rate would continue and judged that a change to the committee's reinvestment policy would likely be appropriate later this year".
The central bank is scheduled to release its policy decision at 2 p.m. EDT (1800 GMT) on Wednesday at the conclusion of its two-day meeting.