India can lead gobal south that will rule the world for next 100 years: Kiril Sokoloff
What makes you so bullish on India?
It's the people. India and China in the 18th century had 25% of global GDP before they were colonised. When you have been exploited like that and then you are free, it just unleashes a power that you never imagined was there. But it requires good leadership. The government must get out of the way and develop technology in a way that accelerates this trend which is what Prime Minister Modi has done so well. India has the potential to lead the world or at the very least to lead the Global South which is the 88% of the population that will rule the world for the next 100 years. The Europeans and the Americans have had their day in the sun. Now, it's the Global South. There is a tremendous opportunity for India to be a leader here.
What about Indian equities?
If my assessment is correct, a lot of capital is going to leave the US where it has been concentrated for 14 years. India is going to be a destination. So I see no reason why one would not want to still be very bullish on the Indian stock market. And it's in our high-conviction themes.
What is your assessment of the US economy?
The data is very confusing. There are a lot of conflicting data points. The first one is growth. GDI (gross domestic income) gives a much different picture than the GDP. It has been separating for more than two years. The second is employment. Everybody pays attention to the payroll data, but the household survey is much more comprehensive, and there's a big disparity there. So, the US economy is
