Tuesday, December 12, 2023

India to be $8 trillion economy by 2030-31; market cap can match GDP: Raamdeo Agrawal

With India being one of many quickest rising economies on the earth, it has the potential to achieve $8 trillion by 2030-31, noticed veteran investor Raamdeo Agrawal.

India is in a unique progress cycle, the place combination earnings proceed to develop quicker than anticipated. The September quarter noticed India Inc’s earnings develop by 32% versus expectations of about 25-26%, he mentioned.

Agrawal due to this fact stays bullish and sees potential for the market capitalisation to match India’s GDP by 2030.

In a current business summit, Agrawal predicted the benchmark Nifty50 index to double over the subsequent 5 years and even swell by 4 occasions in 10 years.

Regardless of a rollercoaster journey, Nifty50 has given about 6% returns to traders to date in 2023.

If earnings develop in double digits yearly on a sustainable foundation, the market can be must develop at an analogous tempo, in keeping with Agrawal.

“If earnings are going to develop at 15-20%, there’s no cause why markets is not going to develop on the identical fee,” Agrawal, who’s the Chairman of Motilal Oswal Monetary Companies, mentioned throughout a media meet right here on Tuesday. Whereas themes equivalent to China+1, Make in India, urbanisation, healthcare infrastructure have gained a whole lot of traction because the pandemic, the one theme that Agrawal is extraordinarily bullish on is digital transformation.

Agrawal expects digitally-powered companies to develop exponentially within the present decade.

With the rising participation of retail traders and rising SIP e-book of mutual funds, the fairness market veteran sees potential for the entire dematerialised accounts to achieve 200 million within the close to future.

Holding in thoughts the expansion potential for the home economic system and the markets, as a fund home, Motilal Oswal Asset Administration is focussing on following “Excessive High quality Excessive Development” funding technique throughout its portfolios.

The fund home follows the philosophy of “QGLP” – High quality, Development, Longevity, Value – throughout funds and portfolios

(What’s shifting Sensex and Nifty Monitor newest market information, inventory suggestions and knowledgeable recommendation on ETMarkets. Additionally, ETMarkets.com is now on Telegram. For quickest information alerts on monetary markets, funding methods and shares alerts, subscribe to our Telegram feeds.)

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