Uday Kotak: This is a great time for foreign investors to invest in India. Uday Kotak, Asia’s richest banker and managing director of Kotak Mahindra Bank, has said this. He said that foreign investors should invest in companies in the consumer sector of India, because the valuation of shares has come to a very attractive level due to the corona epidemic.
Kotak said, “I have always believed that you should invest in India when things are looking challenging.” Kotak said this during a conversation with Carlyle Group co-founder David Rubensstein. The conversation between the two took place at the Bloomberg India Economic Summit. Kotak told RubensTeen that this is the best time for you to invest.
Foreign investors have been investing in this country (India) with 50 crore internet users for quite some time. They are investing in e-commerce to digital platform companies. This was the situation in the early days of digital boom in China. This year, due to Corona virus, the importance of these companies has increased.
Mukesh Ambani, Asia’s richest person, has raised more than $ 20 billion this year. He has sold a 33 per cent stake of his technology unit Jio Platforms to veteran investors. These investors include big companies like Facebook and Google. Now Ambani has started raising money by selling a stake in his retail unit Reliance Retail Ventures. In the last two months, he has raised $ 5.1 billion by selling stakes to private equity firms and sovereign wealth funds.
Kotak said that e-commerce, technology, pharmaceuticals and consumers are the right sectors to invest in India right now. There is already interest from investors in the health care sector. KKR & Co. said in July that it would buy a controlling stake in JB Chemicals & Pharmaceuticals. The Carlyle Group has bought a 20 per cent stake in the pharma business of Indian billionaire Ajay Piramal.
Rubenstine also agreed with Kotak’s thinking. He said that India and China are the best markets for investors in the next 10 years outside the US. He said, “India has not received as much capital from outside as it has come from China. But I believe the situation will change in the next 10 years. India is being seen as a great option for foreign investors.”
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