Economic contraction in India an opportunity for long-term investors: Wood

In adversity lies opportunity. The scale of economic collapse in India, according to Christopher Wood, global head (equity strategy) at Jefferies, should be seen as a dramatic opportunity for long-term equity investors. Earlier this week, the contraction in Indian economy was the worst-ever in nearly four decades with the gross domestic product (GDP) for the April – June 2020 quarter of fiscal 2020-21 (Q1FY21) coming in at a negative to 23.9 per cent year-on-year (YoY). The 23.9 per cent YoY decline in Indian real GDP growth in Q1FY21, and 22.6 per cent YoY decline in nominal GDP g.....

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