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India Will Dictate Terms To The World, China & US Will Have To Take India Seriously in 2020 – Satya Brahma

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India Will Dictate Terms To The World, China & US Will Have To Take India Seriously in 2020 – Satya Brahma
Overall, the share of emerging equity markets in the global equity market pie is going to rise very significantly in the next 20 years and India will play a very strong role in the shift.
In terms of global projections, we believe by 2030, China will be world’s largest equity market, the US will be number two and India will likely be number three. Consequently, we are optimistic about the overall longer-term structural growth potential for India. Overall, India is set to make its mark in a bigger way though the present market conditions are tumultuous. So even though we are underweight on India, we still hold quite a constructive full year view. However, our anticipation is returns are likely to flow in towards the later part of 2020 as opposed to the beginning. Two quarters ago, we lowered our view on India to underweight and that is something that has played out during the last quarter. India’s valuations & Market dynamics will be key as all-round progress will have a significant impact , and also to some extent larger say in the world market. Our underweight view on India is not so much of something being wrong with India, it is more the question of the underlying positive story being discounted by a very strong appreciation in the markets, which have caused valuations to go up to quite high levels. The developed world’s institutional fund managers, which are basically pension funds, insurance companies and mutual funds, chronically and structurally still have an underweight exposure to emerging growth areas of the world. Today, you can see a very strong and secular trend of money flowing from developed market’s asset managers to emerging market equities. This may fluctuate from time to time, but overall the trend will continue over the longer term and is a very positive one. Indian market to be world’s 3rd by 2030. The Indian growth story will have a different picture considering its globe-trotting future.

The Author is Editorial Chairman of Network 7 Media Group.

 

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