“We are still seeing some blow-ups among non-banking financial companies, which highlights liquidity concerns. We think those that are struggling are of mediocre quality and will see a shake-out,” Fong said. Aberdeen manages $676.8 billion as of end-March, globally.
Here are the excerpts from the interview:
“In the near term, we can expect additional rate cuts to give the economy a lift. Over the long term, the structural positives of a young population and expanding middle class underpin the country’s growth prospects. Improved fiscal reserves ensure the economy is better positioned to withstand external currency and interest rate risks. ”
“In itself, India is an investment opportunity because its domestic market is so huge, making it less export-dependent than many emerging market peers.”
“Government spending commitments in areas such as infrastructure, as well as rising affordability from price cuts induced by the Goods and Services Tax, lift the prospects for domestic consumption. This should help to drive company profitability.”