Famous veteran investor Mark Mobius, on Tuesday, expressed his confidence in India’s economic growth and said, “ Sensex is poised to soar to new heights, with a target of 100,000 within the next five years.” Currently, the Sensex is standing at around 70,000 points.
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“India’s dynamic and diverse economy is a testament to its strengths. Its linguistic and cultural diversity, which some may perceive as a weakness, is a formidable asset,” said Mark Mobius, Founder of Mobius Capital Partners, at the Morningstar Investment Conference held in Mumbai.
He also vouched for India’s creativity, which will be led by its tech-savvy youngsters. “As we look ahead, India’s future is exceptionally promising. It is a land of opportunities and innovation, with the potential to play a pivotal role in the global financial arena,” he added.
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He called India the beacon of promise in the financial landscape. While commenting on Sensex touching new heights in the next five years, Mobius said “Market corrections and downturns are inevitable, they are not a source of concern but rather an opportunity. As the market fluctuates, it provides us with a chance to seize undervalued assets and conserve cash for strategic investments.”
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In an unpopular opinion, the veteran investor called India’s linguistic and cultural diversity as a ‘formidable asset’. He called India a dynamic and diverse economy which is a testament to its strengths. Calling India a land of opportunities and innovation, he expressed confidence in India’s future.
“In a world where technological expertise is the driver of growth, India’s vast population, with an average age of 27, positions it as a key player. This demographic dividend, combined with the country’s enterprising spirit, makes India not only an exciting market but a beacon of hope in the ever-evolving financial landscape,” he said.
He also advised investors to pay attention to their surroundings and factors that can affect the stock market, be it geopolitical or economic.
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Updated: 31 Oct 2023, 07:28 PM IST