Liontrust AM's Shashank Savla discusses his outlook for the Indian equity market following the latest state elections and as the reform pace slows down.
Indian Prime Minister Narendra Modi's visit to the UK last month generated a lot of press coverage, and resulted in the signing of deals between Indian and UK firms worth more than £9bn. He is clearly still very popular, in spite of the attention that has been afforded to recent reversals in some of India's state elections (namely in Bihar and Delhi) and the slow pace of reforms. However, in our view, the importance of state elections has been overstated. Every state election has been portrayed as a referendum on Modi's performance, but we are relatively unconcerned by the losses in ...
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