EFG AM's Sam Jochim: India is a light in dimming global economy

6% GDP growth forecast

On the back of strong domestic consumption and rising GDP growth, further promise for India was the recent news that its government bonds worth $330bn will be added to JP Morgan’s Emerging Market index.

This is expected to trigger huge inflows of foreign investment, further buoying India's prospects and providing a bright spot for investors against an otherwise gloomy global growth outlook. GDP growth is projected to be around 6% per annum for the next five years and despite the recent surge, inflation has returned to its target range, opening the door for rate cuts in 2024. Opportunity abounds as India gains entry to JP Morgan's bond index That said, average living standards in India are disappointingly low, and additional structural problems such as an inefficient labour market ...