BNP Paribas sees profit revival in Indian equity market

Earnings at companies listed in India, Asia’s best-performing stock market this year, can return to 2006 highs if the nation doesn’t enact any more “disruptive” economic policies, according to BNP Paribas Asset Management. “We just need to avoid disruptions to get earnings back,” Anand Shah, head of investments at BNP Paribas Asset Management (India) Pvt., said in an interview. “Indian companies’ profits have shrunk in the past decade,” he said, adding that the 2016 withdrawal of the most valuable bank notes and the introduction of a general services tax in 2017 were among government steps that forced businesses to change the way they operated.

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