Veteran Emerging Markets investor Mark Mobius said that the Sensex may hit the 1 lakh mark in the next five years. Chairman of Mobius Emerging Opportunities Fund told CNBC-TV18, “ Sensex will hit the 1 lakh mark within the next five years or earlier” as he said that the Indian market needs to grow in size to attract more capital inflow.
What Mark Mobius said on China and IPO in India?
He said, “A big shift of money from China to India is yet to happen due to the market size in India. There needs to be more equity offerings in India, more IPOs and hopefully more government enterprises being listed in the market because India has some very large government enterprises that can be listed.”
Which sector excites Mark Mobius?
Talking about different sectors, the investor expressed excitement about the infrastructure section and said, “One area where you can have a lot more size is the infrastructure sector if you do IPOs of various infrastructure projects, whether it be bridges, toll roads.”
He earlier also expressed his positive views about India and highlighted that he was closely observing the technology sector in the country.
“Up till now, India has been a leader in software technology. They export software all around the world. Now they get into hardware and I think that is going to be the most exciting,” he said.
Mark Mobius’ praise for PM Modi
Praising PM Narendra Modi, he said, “He (Modi) is moving in the direction of more and more technology and it is amazing. With a very young population, this is a very exciting time for the country. India offers an attractive consumer play, but it’s the tech sector that I’ve been watching closely. Under Modi’s leadership, India’s tech space has moved ahead of many developed countries. If Modi secures a third term in office, I can only imagine a further push for digitalisation, which would be great for India.”
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