Harsh Gupta Madhusudan, Fund Manager – PIPE Fund, Ionic Asset
“India’s just announced trade deal with the US is a welcome news. For many MSME as well as listed goods exporters, a major overhang is removed particularly in textiles, auto/auto ancillaries, gems/jewellery and so on. Similarly positive news for the markets in terms of sentiment and flows. The Indo-EU FTA gave India negotiating leverage with Trump, though we must wait for the fine print. Combined with reasonable valuations, good earnings (ex-one time labour charge), a falling dollar and a solid domestic macro of high growth and low inflation, Indian equity markets look attractive from a risk-reward perspective.”