As zero-Covid policies followed by their officials affect China as an investment destination, multinationals look at India as an alternative, according to a financial Times Report good.
Indian benchmark indices hit a new high last week Foreign investors put money in equity, As per NSDL data, FPIs invested 36,239 crore in equity during November – the second highest monthly purchase by FPIs in 2022 after August 51,204 crores.
“Indian equities hit record highs as investors look beyond China. The Nifty 50 is down 7% YTD, w/ the MSCI’s broad emerging market index, which is down 16%. Supply chain disruptions due to Beijing’s zero-Covid policies boost India’s appeal for multinationals,” tweeted market veteran Holger Zschapitz, quoting a financial Times Report good.
Case in point, there are talks that Apple is shifting some of its production to India. People involved in the discussions say, “Apple Inc. has accelerated plans to move some of its production outside China, long a key country in the supply chain that has made the world’s most valuable company. asking to plan more actively to assemble.” They say products elsewhere in Asia, particularly India and Vietnam, and are looking to reduce reliance on Taiwanese assemblers, led by Foxconn Technology Group. wall street journal informed of.
Telecom and IT Minister Ashwini Vaishnav said last month India is going to get the biggest manufacturing unit of Apple iPhone in Hosur, Bangalore.
Indian benchmark indices, Sensex and Nifty, hit record highs last week, despite economic turmoil globally.
India becomes second most valuable equity market globally after New Zealand financial Times Citing Societe Generale Analysis. The French bank has predicted that the Indian stock market will grow by 19.6 per cent in 2023 in terms of earnings per share.
Mint could not independently verify the findings of the report.
The World Bank has said in its latest report India’s economy expected to grow by 6.9% as compared to an earlier forecast of 6.5% in the current fiscal. The bank, however, cut its expectation for the next financial year to 6.6% from 7% earlier.
On the other hand, Morgan Stanley Recently Singapore and Indonesia were downgraded to equal weight and India and Malaysia to less weight. The global investment bank upgraded its stance on China shares to overweight from equal weight position with effect from January 2021.
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