JM Financial optimistic amidst RBI action, foresees strong growth in Indian markets
Chirag Negandhi, MD of JM Financial Limited. In an interview with Shilpy Sinha, he said that the market trajectory will increasingly hinge on the election manifestos, which will outline the broad policy direction for the upcoming term. On recent RBI action, the group is committed to regulatory compliance and is cooperating with the regulations, Negandhi said. Excerpts:
Recently RBI has barred JM Financial from doing any financing against shares and debentures. How do you respond?
I would like to reiterate that as a group we take all regulatory matters with utmost importance and are committed to cooperating with the regulators.
With India's real GDP projected to grow at over 6% annually from 2023 to 2028, and the number of affluent consumers expected to rise from approximately 60 million in 2023 to 100 million by 2027, according to Goldman Sachs research, which industries stand to benefit from it?
With sustained improvement in the trajectory of the working age population in India which is expected to grow from 64% in 2020 to 69% of the total population by 2030,
India’s demographic dividend is playing out positively. The sustained outperformance of the Indian economy since the pandemic strongly validates the hypothesis. As aspirational Indian consumers climb the affluence curve, the secular trends of increasing digital adoption, consistent premiumisation and rising financialisation are expected to become more entrenched.
With the real estate cycle too having turned around, multiple sectors will benefit due to the
