Davos 2024: Interest In India Story 'Credibly Incredible', Says Manish Kejriwal Of Kedaara Capital
India is also looking like a nation with a lot of emerging sectors, which may not have too many behemoths, but very strong companies nevertheless, he says.
The interest in India is "credibly incredible," and in conversations at Davos, Manish Kejriwal of Kedaara Capital hopes to be able to gauge more of the same.
Investors across the world are taking a keen interest in the India story and in various types of sectors that are emerging in the country, particularly in infrastructure. Kejriwal, founder and managing partner of Kedaara Capital Investment Managers Ltd., told NDTV Profit's Niraj Shah on the sidelines of the World Economic Forum 2024 in Davos.
China’s regulatory stance remains unpredictable for corporates in MSCI. China, considering that after signalling repeatedly in 2023 that the tech crackdown was over, regulators closed out the year with new draft regulations on Dec. 22, curbing spending in online games—a surprise move that sent Tencent and other gaming stocks tumbling. Kejriwal said India will not substitute China but will definitely see a large share of capital coming to its shores over the decade.
India is also looking like a nation with a lot of emerging sectors, which may not have too many behemoths but very strong companies nonetheless, he said. The depth of the Indian capital markets would help private equity investors invest more in India, according to him.
When asked about which sectors are seeing a lot of interest, Kejriwal referred to infrastructure as being the dominant one. He cites the recency of large global capital in a number of sectors as an example of the world feeding more and more on Indian infrastructure.
For companies, will 2024 be a year of unpredictability on supply chain and costs? While the Red Sea issue is impacting exporting companies already suffering from soft demand, Kejriwal said things will even out in the longer term.
