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At the first ever Cafemutual India Investment Summit held recently in Ritz Carlton, DIFC, Dubai, Krishnamurthy Subramanian, Executive Director, International Monetary Fund (IMF) said that India's growth story will remain intact despite geopolitical woes and it will continue to grow at 7%.
Cafemutual is a knowledge platform for financial intermediaries. It has organized Cafemutual India Investment Summit to highlight the attractiveness of India as an investment destination. The conference received an overwhelming response from finance professionals and investors alike.
Subramanian said that India’s inflation will hover around 5%. As a result, the nominal GDP growth will be in double digits at least for a decade, he added.
Subramanian also took the participants through opportunities in India. He spoke about India@100: Envisioning tomorrow’s economic powerhouse.
Krishnan Ramachandran, CEO, Barjeel Geojit Financial Services, Pratibha Suryanarayana, Head - Managed Investments & Advisory, Standard Chartered Bank UAE and Sonali Rawal, Executive Director & Head – NRI Business, Anand Rathi UAE took the participants through segmentation of NRI market and opportunities for wealth managers in this space.
Pradeep Ramakrishnan, Executive Director, IFSCA, GIFT City spoke about the opportunities in GIFT city for NRIs and foreign nations while Ajay Vora, EVP & Head Listed Equities, Nuvama Asset Management shared with us his perspective on the journey of India to becoming a USD 10 trillion economy.
In a panel discussion, which was moderated by Deepak Nair, Senior Vice President - ZH - Private Wealth & Banks, Motilal Oswal AMC, Ajay Vora, Madanagopal Ramu, Head - Equities and Fund Manager, Sundaram Alternates and Pramod Gubbi, Founder, Marcellus Investment Managers said that Indian equity market is not overvalued and believe that opportunities are available across market capitalization.
Sheela Kulkarni, Head of Market Development (Investment) & Institutional Investor Relationships, World Gold Council gave her perspective on gold as an asset class. She believes that investors should give 10-15% allocation to gold to reduce volatility and create wealth.
Akhil Chaturvedi, ED, Motilal Oswal AMC and Vaibhav Shah, Head Business Development Strategy & International Sales, Mirae Asset Investment Managers (India) took the audience through opportunities and trends in the alternatives space.
Neha Bagri, Associate Partner, PWC simplified the taxation maze for NRIs and foreign investors in her session.
In the final panel discussion, Kailash Kulkarni, CEO, HSBC Mutual Fund, Swarup Mohanty, Vice Chairman & CEO, Mirae Asset Investment Managers (India) and Vishal Kapoor, CEO, Bandhan Mutual Fund, the CEOs said that India will seize the next decade of growth.