Is this the right time to invest in India? What Asia’s richest banker Uday Kotak said…

The best sectors to invest in India are eCommerce, technology, pharmaceutical, consumer, and Kotak," said Uday Kotak.

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Uday Kotak to invest in India

Foreign investors should invest in consumer sectors in India as the economy collapses due to the impact of Covid, therefore, it is the right time for an attractive business valuation, said Uday Kotak, Asia’s richest banker.

The Managing Director of Kotak Mahindra Bank Limited said in a conversation with Carlyle Group Inc. founder David Rubenstein at the Bloomberg India Summit on Thursday that I always believed in investing in India in challenging time periods. This is the best time to put your money to work.

More than half a million Internet users and growing foreign investors invest in India in the areas of e-commerce to digital payments – similar to the early days of China’s digital boom. The importance of this area continues to grow this year as the Kovid influence continues this year.

This year Mukesh Ambani raised $ 20 billion by selling 33% of his company JIO to Facebook and Google. His Reliance Retail Venture Ltd raised $ 5.1 billion in the last two months from private equity and sovereign wealth funds.

“The best sectors to invest in India are eCommerce, technology, pharmaceutical, consumer and Kotak,” said Uday Kotak. The health care sector is already receiving investment. For example, KKR & Co. J.B. Chemicals and Pharmaceuticals Ltd will acquire a controlling stake, while Carlyle Group bought a 20% stake in the pharmaceutical business of Indian billionaire Ajay Piramal.

“Outside the US, India and China are the best investment options in the world over the next 10 years”, Rubenstein said. “India does not have as much investment as China has and I do not think this will change in the next 10 years but still India is being seen as an attractive location for foreign capital investment”.

What do you think about the Indian market – Is this the right time to invest in India? Share you comment below…

Related: India witnessed 20% increase in wealth among super-rich during Covid

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