India shines bright among global emerging markets, says EPFR Global
Cameron Brandt, Director of Research at EPFR Global pointed out that while there are certainly some other emerging markets that have part of India's story -- some that have a bit of a reform story, some that offer strong growth -- but none that can offer the goldilocks combination that India can hand out at the moment.
EPFR Global, a leader in fund flow and asset allocation data, has highlighted India as a standout in emerging markets. In these times of global economic uncertainty, India shines with its robust growth, investment attractiveness, and key global position.
Cameron Brandt, Director of Research at EPFR Global, shared his views on CNBC-TV18, saying, “There are certainly some other emerging markets that have part of India's story -- some that have a bit of a reform story, some that offer strong growth -- but really none that I can see that offer almost the goldilocks combination that India can hand out at the moment.”
He was surprised at how slowly significant funds are moving from China to India, even as diversified funds struggle to attract investments and foreign investors remain wary of China.
Also ReadForeign investors remain wary of China, Brandt said, noting that optimism is building that China might ramp up stimulus measures. If China starts making more aggressive economic moves, it could quickly regain popularity among investors, potentially impacting the balance in emerging markets.
Richard Harris, Chief Executive of Port Shelter Investment Management shares Brandt's views. Harris remains upbeat about China, despite its economic slowdown and Moody's recent downgrade of China's credit rating from "stable" to "negative" due to rising debt. In a CNBC-TV18 interview on December 5, Harris said, "China is undoubtedly facing significant challenges presently. However, I am confident that China will successfully overcome the current economic downturn."
Harris believes that if China makes aggressive moves, there could be a bounce back in the economy. This view comes amidst the global market's anticipation of rate cuts in 2024 and a sharp reaction to the US Federal Reserve's initial remarks and policy meeting.
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(Edited by : Shweta Mungre)
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