According to Bain & Company's India Private Equity Report 2013, India has lost its standing as the fastest-growing private equity market in Asia. Bain & Company partner, Arpan Sheth, acknowledges that changes must be made in India's private equity industry, explaining that “The PE industry must be able to demonstrate that as an asset class it can generate consistent returns for its LPs." With that said, however, there is still growth. With exits as well as deal activity expected to increase throughout 2013, sentiment regarding India among PE firms has not been positive, but despite this, the report indicates that the industry will remain committed to the country in the long term.