As the environment gets tougher for companies, businesses that are centres of excellence within their industry would fare well, Chandresh Nigam, MD & CEO, Axis Asset Management Company (AMC), tells Chirag Madia and Yoosef KP. Wealth creation over the five-year period will happen from quality growth business, he believes. Edited Excerpts:
What is your view on slowing economy?
I feel that economy is headed for slightly tougher time. I don’t know whether it will go further down in terms of gross domestic product (GDP) growth. But it’s also naive to think that somebody can just pump money and things will start improving. It can happen for six-twelve months but not long term. India has a huge competitive and innovative issue. Just a few days ago, India slipped down 10 places to be ranked 68th in the annual global competitiveness index 2019.
