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In our prior correspondence, we showcased a chart comparing the constituents of the ITUS portfolio versus the Nifty 50 index. We emphasized sectors in which we hold a positive outlook, identifying them as potential growth areas in the upcoming years. Now, we’re sharing an article from KKR that discusses why India is projected to contribute 20% or more to the total incremental global growth within the next 5-7 years.

With the current reform minded approach to India, Key catalysts include Annual infrastructure investments of Govt to private sector ranging from 4 to 5 billion USD, with consistent trends observed in railways, ports, renewables, and power transmission. There’s also substantial investment in data centres, leveraging the country’s 900 million internet users and robust digital infrastructure like UPI and ONDC in e-commerce networks. GST has been an add on, raising tax revenue and reducing the cross regional trade barrier. Moreover, there has been a significant increase in aggregate household income, rising from 15% in 1990 to 33%, with expectations of further growth to more than $35,000 per household by 2031, representing a five-fold increase. These developments are poised to enhance wealth management, savings, healthcare, and expenditure on luxury goods and consumer experiences.

What we bring to you as takeaways from the KKR Report are-

  • Foreign Capital will continue to flow into India this decade
  • However, its not about just investing, but as KKR says, staying the course – which is where risk management is key
  • Manufacturing is under-represented and that’s where the key levers of excess returns will come from
  • The stock markets are reflecting this, so you just can’t invest money and forget it ( again risk management is key)
  • As KKR aptly puts it – “A local presence has become increasingly required, because – as we detail below – not all consumers are enjoying the same economic uplift. Separately, as the corporate sector matures, partnering with the right local players who intend to properly scale their businesses has become a key differentiator”.

You can read the complete article in the below link-

thoughts-from-the-road-india-february-2024.pdf (kkr.com)


Also, continuously keeping you informed about our SIP program is a key commitment for us as SIP presents investors with a convenient avenue to regularly infuse capital into their portfolios. Feel free to check out the benefits for your clients. If you need more info, reach out to your dedicated relationship manager at [email protected].

These weekly episodes are now available in our website for your quick read and you may access the same in the below link.

Weekly Enlightenment Archives – ITUS Capital