India in a sweet spot for next 5 10

1. India in a Sweet Spot for
Next 5-10 Years
HOPES HIGH Country will outperform global markets in the next few
years: Investors

2. Contd…
Stock markets the world over are facing rough weather and it clearly reflected on the
sentiment at t h e I I F L G l o b a l I nve s t o r 's Conference, Enterprising India VII.The
general mood at the conference, which started on Tuesday and where more than 100
companies are presenting their business outlook, was `caution with optimism'. However,
fund managers and investors said India would outperform global markets in the next
couple of years.Jim Walker, founder, Asianomics, who made the keynote speech, cautioned
about global economic outlook with concerns over Europe, China and Japan, but said India
re mained one of the better-placed economies. “Indian economy in 2014 bottomed out
and now it's in a sweet spot for the next 5-10 years.Inflation is declining and RBI is behind
the curve, hence the central bank needs to cut interest rates aggressively to support the
economy .The external sector is comfortable with modest deficit, while rupee should
remain stable.“
Most of the conference participants said foreign Institutional investors still have faith in the
India story and believed the country will be among the first to rebound when the global
economy recovers. FIIs have pulled out about $2 billion from India so far this year.

3. Contd…
Nirmal Jain, chairman of the IIFL Group, said: “Currently , there's glo bal
pessimism and some frustration in local markets, but if you look at the larger
picture with a medium to long term view, then you will find that India is the
only bright spot in the world with most of the macro factors favouring the
country .“
Participants at the conference said India has become an emerging economy
case where the recent decline in stock prices has made valuations very
attractive. According to most fund managers, selective large caps have great
stories. Some FIIs are looking at midcaps which have potential for growth
and better corporate governance.
At the conference many discussions were around `fear of the unknown'. R
Venkataraman, managing director of IIFL, said: “Everyone is worried about
some or the other global event and many don't know what will hurt markets
negatively, but everyone thinks there is something unknown to fear.“

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