Making Markets
Episode 39 The Case for Investing in India
Making Markets

Episode 39: The Case for Investing in India

Making Markets

Episode 39

The Case for Investing in India

Saurabh Mukherjea is the founder and CIO of Marcellus Investment Managers. We cover why India has outperformed China, the rise in domestic market inflows, and the opportunities and risks in the future.

(00:00:00) Welcome to Making Markets

(00:01:05) Meet Saurabh Mukherjee: India's Articulate Fund Manager

(00:01:18) India vs. China: A Market Comparison

(00:01:26) The Rise of Domestic Inflows in India

(00:01:33) Challenges and Risks in Indian Markets

(00:02:17) Why India is Oversold to American Investors

(00:03:59) The Flow of Capital: India vs. China

(00:08:30) The Impact of Political Dynamics on Markets

(00:09:55) China vs. India: Private Sector Relations

(00:11:19) Foreign Direct Investment (FDI) in China and India

(00:13:37) Perceptions of Free Market Democracies

(00:15:31) Media Influence and Market Trends

(00:18:45) The Role of Domestic Investors in India

(00:20:19) Wealth Distribution and Investment Trends

(00:21:18) Impact of COVID-19 on Market Participation

(00:24:16) Regulatory Perspective on Market Growth

(00:24:38) Social Shifts Driving Market Trends

(00:27:36) Angel Investing Boom

(00:28:18) Debt and Corporate Balance Sheets

(00:34:31) The Bull Case for India: Key Themes

 

The Case for Investing in India

Introduction

Eric
My guest today is Saurabh Mukherjea, the Founder and Chief Investment Officer of Marcellus Investment Managers. Saurabh is one of the most articulate fund managers in India. And today, he makes it a compelling case for investing in the country.

We start with contrasting India and China and why China receives all the attention despite better results from the Indian market. We then cover the bull case for India, the rise of domestic inflows into the stock market and the nascent Indian bond market. We close with a discussion of risks and themes that Saurabh is excited about over the coming years. Please enjoy this conversation with Saurabh Mukherjea.

Eric
Saurabh, we've done a couple of episodes on India, and I think an interesting place to start would be during my investing career, India was a story that was pitched quite a bit. And it wasn't a necessarily, but I think an interesting question is why is it that we would be pitched India as a breakout investment every quarter or every year and in spite of that, it never felt like the investment ever met the level of pitch that we got.

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