1 September 2023
As highlighted in our recent executive summary, India’s growth agenda is already paying dividends via the drivers of formalisation and digitisation that catalysed reinvestment in manufacturing. The result: the country’s macro economy has become more resilient with increased capital expenditure and industrial order books, as well as a narrowing current-account deficit and a healthier inflationary picture.
This thought leadership piece offers an in-depth look at how the current economic foundation, based on key government reforms, has enabled the economy’s next compelling stage. The paper further introduces the new drivers of growth, classified as the 5Ds: Digitisation, Deglobalisation, Decarbonisation, Demography and Deficit Reduction. They are poised to reshape the country’s commercial environment across diverse sectors, and we believe they should represent a paradigm shift for the Indian economy and how investors view it.
Given the current market environment, this piece highlights how Indian equities may participate in the country’s long-term growth story amid policy continuity and a stable regulatory environment. Overall, we think the asset class potentially presents sustainable growth opportunities at an uncertain time when the global growth outlook and corporate earnings environment remain unsettled.
Asset allocation views on SpaceX IPO, Reopening of Strait of Hormuz, and the BOJ rate hike
The Multi Asset Solutions Team (MAST) provides asset allocation views on three recent developments that could influence markets in different ways: the SpaceX Initial Public Offerings (IPO), the reopening of the Strait of Hormuz, and the Bank of Japan’s (BOJ) rate hike. In our view, these events create mixed signals across growth, inflation and liquidity. Overall, the backdrop still appears uneven, and this may support a measured and selective approach to asset allocation rather than a broad increase in risk.
China Fixed Income: From deflation to reflation: what comes next?
Not another bubble: How semiconductors are powering a real future
Semiconductors sit behind almost every modern experience – from smartphones and cars to cloud computing and today’s AI tools – yet they remain largely invisible to most people. They are more than chips only, and the demand is being supported by several long-term forces. We believe that today’s semiconductor excitement is not a repeat of the dot-com bubble, as investment is tied to real infrastructure and revenue-generating services. And the opportunity is broader than a handful of headline AI names.
Asset allocation views on SpaceX IPO, Reopening of Strait of Hormuz, and the BOJ rate hike
The Multi Asset Solutions Team (MAST) provides asset allocation views on three recent developments that could influence markets in different ways: the SpaceX Initial Public Offerings (IPO), the reopening of the Strait of Hormuz, and the Bank of Japan’s (BOJ) rate hike. In our view, these events create mixed signals across growth, inflation and liquidity. Overall, the backdrop still appears uneven, and this may support a measured and selective approach to asset allocation rather than a broad increase in risk.
China Fixed Income: From deflation to reflation: what comes next?
Not another bubble: How semiconductors are powering a real future
Semiconductors sit behind almost every modern experience – from smartphones and cars to cloud computing and today’s AI tools – yet they remain largely invisible to most people. They are more than chips only, and the demand is being supported by several long-term forces. We believe that today’s semiconductor excitement is not a repeat of the dot-com bubble, as investment is tied to real infrastructure and revenue-generating services. And the opportunity is broader than a handful of headline AI names.