Why Indians need to invest in the world

In May 2019, the Narendra Modi-led government was re-elected with a powerful mandate. Hopes for a strong economic recovery rode high, and in the second half of the month, Indian equities bounced almost 10%. Earlier that month, I had taken a contrarian position, and tweeted that gold would outperform the National Stock Exchange’s benchmark Nifty 50 index. Well, it happened more quickly than I anticipated. Between 2 May 2019 and 20 February 2020, gold appreciated 23% more than the Nifty.