“India is known as the market that has confounded optimists and pessimists alike” is the first sentence of this article. It best captures global investors’ view of the Indian economy and markets alike. Fund managers at Capital Group, one of the most admired active investment management companies in the world, have attempted to answer if the future is finally changing in favour of a more optimistic view on India. They touch upon nine aspects to enrich their answer:
- Reforms have set the stage for growth
- The infrastructure boom is real
- Tailwinds for manufacturing are getting stronger
- India’s equity market has been growing and should evolve
- Investment opportunities span real estate, financials and industrials
- China plus one: The chemicals industry sets a good example
- The energy transition could be transformational
- Demographics are the biggest advantage
- Valuations are stretched but not insurmountable
Very relevant points backed by data and research and put together in a succinct article is well worth a read.
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