Date: 13th Apr 2023 | Publication: Ausbiz
India’s investment opportunities
India is benefitting from supply chain diversity due to the need for governments and corporates globally to diversify their reliance on China. That’s the view of Mugunthan Siva, Managing Director of India Avenue Investment Management, who has just returned from tour of India. Mugunthan says compounded with India’s large employable population, an increase in manufacturing, exports and consumption is expected.
Mugunthan underscores the significance of India’s shifting demographics, as an escalating number of working-age individuals propel the nation’s growth. India’s strategy involves concentrating on local manufacturing, decreasing dependence on imports, participating more in the global supply chain, and enhancing infrastructure through government capital expenditures. Mugunthan also identifies opportunities for foreign investment, such as Apple’s expansion into India and Indian businesses acquiring companies overseas. The country’s ongoing digitisation is projected to have positive effects on the economy, driven by increased internet penetration rates and the growing adoption of smartphones. Furthermore, Mugunthan says political stability is expected to remain solid, with the BJP party under Narendra Modi’s leadership likely to continue in power after the 2024 elections.