India more attractive than other emerging markets: Capital Group - Times of India
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NEW DELHI: Capital Group, an American financial services company, has said that India appears to be more attractive than other emerging markets in the wake of the reforms initiated by the Modi government and a boost to domestic manufacturing, offering massive opportunities across sectors — from real estate to financial services and telecom. Although it said that the stock markets — which has seen the Sensex and Nifty trade at record highs in recent weeks — appear overvalued, there is a lot going for it. “. . . we believe the fundamental outlook for India is arguably better than ever. The market has a lot going for it: It’s one of the world’s fastest-growing economies, inflation is under control, the government has been fiscally responsible, and corruption is lower than it was a decade ago. If Indian companies can deliver on earnings and cash flows, we think it’s possible the market can grow into these valuations. The path of India’s equities has never been a straight lin