UTI International CEO: India's secular growth phase to last for next decade

Growing middle class a boon for market

India's burgeoning middle class is creating multi-decade growth opportunities across the consumer discretionary sector, according to UTI International's CEO Praveen Jagwani, who said the combination of increasing internet access and nationwide lockdowns has accelerated this trend.

Jagwani, who has been CEO at the firm for nine years, said there has "never been a dearth of opportunities in India" for equity investors, given its attractive demographics and by virtue of the fact it is an emerging market, which means it has further prolonged periods of economic growth ahead relative to its developed market counterparts.  IW Long Reads: East beats West - Can Asia's first in, first out Covid response embellish emerging markets? "The population of India is larger than that of the US and Europe combined," he said. "India is slated to have the largest middle class in th...