These developments come on the back of the much anticipated political change in
The elections in the world's largest democracy have been marked by record-high voter turnout as the population seeks to put an end to policy paralysis that has inhibited the country's progress over the past five years.
"High voter turnout has been spurred by the desire for political change in
Year-to date, the Indian equity market is among the best performing in the world, with the MSCI India Index making a gain of 15%, compared to a gain of 5.7% for the MSCI Developed Markets Index, as at
It is anticipated that the Indian equity markets will continue to gain momentum following the general elections, benefitting investors in
Investors also stand to make gains from undervalued Indian equities. The estimated earnings-per-share growth for Indian companies, on average, is currently over 14%, compared to 7.8% for S&P 500 listed companies; whereas the price-to-book discounts on Indian companies also remain competitive relative to their 10 year averages.
In the run up to the general elections, policy reforms have led to significant improvements in the outlook for
"Indian companies are also expected to benefit from the country's rapidly growing middle class which is larger than the entire US population; and its consumer market which is one of the largest in the world," says Asdhir.
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