Inflation is down and its account deficit is shrinking, but the result of India's biggest election could offer the greatest boost to confidence, says Prashant Khemka, CIO of emerging markets equity at Goldman Sachs Asset Management.
Today marks the end of the longest election in India’s history. Following five weeks of continuous voting all over the region, a winner will emerge later this week from its key candidates: Narendra Modi’s Bharatiya Janata Party (BJP), the Congress party led by Rahul Gandhi, and the Aam Aadmi Party. After five years of policy and growth disappointments in India, an economic and earnings recovery may be waiting in the wings even as the country’s politics are again take centre stage. And yet, equity valuations do not appear to be fully pricing in what could be happening in India. Importa...
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