Kunal Desai, head of Indian equities at Neptune Investment Management, discusses the long-term outlook for the Indian equity market following the recent correction.
"If you are an outsider looking at India, learn to filter out both the irrational exuberance and the excessive pessimism. We are subject to both." So said India's former central bank governor, Raghuram Rajan, when commenting on investor sentiment towards India. While we may have not reached the levels of excessive pessimism, the mood among market participants seems to be one of mild indifference. With the upswing in synchronous global growth, India is no longer the only story in town. However, feedback from my investor roadshows over the past couple of years has focused on the elus...
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