Remain positive on India, Budget 2022 good: Bank Julius Baer's Mark Matthews

It was a good union budget for India this time, said Mark Matthews of Bank Julius Baer & Co, on Friday, adding that he is still positive on India.

In an interview to CNBC-TV18, Matthews said, “Still positive for India. Obviously, the major change in the markets and in the US tends to overshadow everything else. So people do not spend as much time looking at other markets, but it was a good budget. I like the big push on infrastructure finance through improved tax collection rather than higher tax rates.”

Talking about the US market, Matthews said that Amazon posted record profits with margin widening. However with Meta, he believes that there is saturation with user base. He said, “It is hard to see them growing as much as it did before.”