"If you just go over the last six months, one year, two years, three, five, it is very consistent that India and the US, these are the only two parts of the world which actually have growth and you have momentum in the markets," says Ashi Anand, Founder & CEO, IME Capital .
Up till now we have seen that India was underperforming, the rest of the world was outperforming. But then now we have seen a decent set of gains on Nifty and the broader market both. But what lies ahead now. Going further again we have a fifth phase of voting on Monday. Can we say that the pre-election jitters have been put to rest or are they put on to hold? What do you make of this?
In terms of pre-election jitters, I think over the next couple of weeks, you probably have optimism, pessimism coming in and out and early in June we will actually know the result and that will kind of drive market direction.
But just I think if we are looking at India vis-a-vis global markets, while over the shorter term and I think again driven by jitters around election, etc, there may have been a short period of underperformance.
If you just go over the last six months, one year, two years, three, five, it is very consistent that India and the US, these are the only two parts of the world which actually have growth and you have momentum in the markets.
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This is something that we very clearly expect to continue kind of going forward. From a global context, you have issues in Europe, you have issues in China, most other major economies are really kind of struggling. India really stands out very-very strongly in terms of our economic growth outlook.
The overall outperformance of India to global markets, we think is a very clear trend. We believe that as we kind of go past elections, as consumer demand kind of comes back in and as we move towards a phase where interest rates globally finally start to move back down, you could start to again see very strong FII flows coming back into India and really very positive from a longer-term perspective.
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