India Fund

Mugunthan Siva: the stars are aligning over Delhi

Date: 27th Aug 2021 | Publication: Ausbiz

Mugunthan Siva India from India Avenue Investment Management says that India is at the bottom of the cycle in terms of earnings potential compared to the US which is closer to the top of the cycle. And the Australian cycle might not be entirely too far away from its own zenith of sorts. But over in one of Australia’s most valuable, most prospective partners, the economic orbit is showing signs of taking off. The latest Reuters poll of over 40 economists predicts India’s economy over the June quarter will have grown at its fastest on record. This despite the weight of a first wave, compounded by a second Delta driven wave that is still abroad across the nation of over one billion. Mugunthan says this resilence and many other reasons justify why India is not overvalued and in fact may be undervalued. The stars over Delhi are aligning somehow, before Mugunthan’s eyes. From the low interest rates the Bank of India has all but pledged will not be hitting reverse on anytime to the rising investment, a business cycle at its starting post as well as booming exports – he tells Andrew Geohega, yes, the operating leverage could be significant.

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