We expect the Indian equity market to continue attracting interest from local as well as foreign investors. This is because India's economy is expected to continue to record sustained economic growth.
Mark Mobius, executive chairman of Templeton Emerging Markets Group still believes in the emerging markets growth story.
Emerging markets guru Mark Mobius believes the Indian market is no longer cheap but the country has been enjoying a premium over peers due to its growth prospects. In an interview with Business Standard, the executive chairman of Templeton Emerging Markets Group says India's relatively strong fundamentals and accumulation of foreign exchange reserves put it in a much stronger position to weather external shocks.
The Indian markets have risen 5.2 per cent in the last five days, but Mobius, who has one of the largest exposures to India among Brazil, Russia, India, China (BRIC) countries, says he cannot say the correction is over in the Indian markets.
He said cheap valuations, improving sentiment and the ongoing reform momentum coupled with increased transparency due to the internet are driving investors to the Dalal Street.
Mark Mobius doesn't see any crisis brewing in emerging markets.
'Overall, the Indian economy is doing well.' 'Our economic fundamentals are strong and the early signs of recovery are sustainable.' 'This is positive for the market in the long run.'
Mark Mobius, executive chairman, Templeton Emerging Markets Group, is positive on India and believes the Indian economy is on a strong footing
'We want to make sure we stay in India and we have very high hopes from India,' says Mark Mobius.
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