THE INDIAN STOCK MARKET gained 13.8% in 2019 despite high volatility. Making gains in 2020 doesn’t look easy with indications of domestic and global headwinds: slow growth in India, and geopolitical tensions between the U.S. and Iran. However, Motilal Oswal, managing director and CEO of Motilal Oswal Financial Services Ltd (MOFSL) which he co-founded with Raamdeo Agrawal in 1987, is optimistic about the world’s seventh-largest stock market. In an interview with Fortune India, the 57-year-old Oswal says the stocks of many companies, mostly with good quality businesses, are trading at a discount to their long-term averages. It is a great time to construct a well-diversified equity portfolio for long-term wealth creation, he says. Edited excerpts:
Economists say India’s gross domestic product (GDP) needs to grow at over 10% to make the nation a $5-trillion economy by 2025. How realistic is this goal?
The government’s vision of the nation to become a $5-trillion economy by 2025 is definitely challenging but not impossible. We believe India is well on its path towards achieving this target, albeit it may get there a year or so later. India’s economy crossed $2.6 trillion in 2018-19 and would need to grow upwards of 10% on a nominal basis over the next five years to reach the $5-trillion mark.
While the near-term growth has been slower than expected, the longterm growth prospects continue to remain sanguine. Some of the key components of the economy which would-be contributors to this growth would be consumption, private investment, and exports, as government expenditure alone cannot help in achieving this mega target.
هذه القصة مأخوذة من طبعة February 2020 من Fortune India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 2020 من Fortune India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
TOWER IN FLAMES
What kind of right is academic freedom?
THE PHANTASM
Why was Judith Butler burned in effigy? They have a theory about that.
HOROSCOPES WRITTEN BY MY MOTHER
Your zodiac alignment this month is governed by Venus, the planet of intuition, something my daughter Bess seems to lack.
BEASTLY MATTERS
Where the logic behind the concern for animal welfare begins and ends.
DESIGN FOR LIVING
Can converting office towers into apartments save empty downtowns from ruin?
ON NATIVE GROUNDS
Deb Haaland faces the cruel history of the agency she now leads.
PULSE
He footed off his shoes, the logs balanced on an arm, and tugged the door shut.
THE BATTLE FOR ATTENTION
How do we hold on to what matters in a distracted age?
LITTLE OLD HER
Is Taylor Swift doing too much?
TRIPLE FAULT
A meal is never just a meal in a Luca Guadagnino movie; each bite is a prelude to a kiss, every feast a form of foreplay.
NIGHT MUSIC
“Stereophonic” and Cabaret at the Kit Kat Club” on Broadway.
US GROWTH SLOWED SHARPLY LAST QUARTER TO 1.6% PACE.REFLECTING AN ECONOMY PRESSURED BY HIGH RATES
The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high-interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace.
SENATE PASSES BILL FORCING TIKTOK'S PARENT COMPANY TO SELL OR FACE BAN, SENDS TO BIDEN FOR SIGNATURE
The Senate passed legislation this week that would force TikTok’s China-based parent company to sell the social media platform under the threat of a ban, a contentious move by U.S. lawmakers that’s expected to face legal challenges and disrupt the lives of content creators who rely on the short-form video app for income.
AS BIDEN CELEBRATES COMPUTER CHIP FACTORIES VOTERS WAIT FOR THE PROMISED PRODUCTION TO START
President Joe Biden has a great economic story to tell voters a decade from now, less so in 2024.
ORACLE'S LARRY ELLISON SAYS PLANNED NASHVILLE CAMPUS WILL BE COMPANY'S 'WORLD HEADQUARTERS'
Oracle Corp.’s planned campus in Nashville, Tennessee, will serve as the business software giant’s world headquarters, placing it in a city that’s a center for the U.S. healthcare industry, company Chairman Larry Ellison said.
FTC SENDS $5.6 MILLION IN REFUNDS TO RING CUSTOMERS AS PART OF VIDEO PRIVACY SETTLEMENT
The Federal Trade Commission is sending more than $5.6 million in refunds to consumers as part of a settlement with Amazon-owned Ring, which was charged with failing to protect private video footage from outside access.
NETFLIX NOW HAS NEARLY 270 MILLION SUBSCRIBERS AFTER ANOTHER STRONG SHOWING TO BEGIN 2024
Netflix gained another 9.3 million subscribers to start the year while its profit soared with the help of a still-emerging expansion into advertising, but caught investors off guard with a change that will make it more difficult to track the video streaming service’s future growth.
Education THE APPLE ECOSYSTEM FROM PLAYGROUNDS TO UNIVERSITY LABS
Technology is pivotal in learning environments that constantly adapt and evolve, and Apple is at the forefront.
TENSIONS BETWEEN BEIJING AND WASHINGTON ARE THE BIGGEST WORRY FOR US COMPANIES IN CHINA.REPORT SAYS
Simmering tensions between Beijing and Washington remain the top worry for American companies operating in China, according to a report by the American Chamber of Commerce in China released this week.
MICROSOFT & AMAZON FACE SCRUTINY FROM UK COMPETITION WATCHDOG OVER RECENT AI DEALS
British competition regulators said this week they’ll scrutinize recent artificial intelligence deals by Microsoft and Amazon over concerns that the moves could thwart competition in the AI industry.
OLYMPIC ORGANIZERS UNVEIL STRATEGY FOR USING ARTIFICIAL INTELLIGENCE IN SPORTS
Olympic organizers unveiled their strategy to use artificial intelligence in sports, joining the global rush to capitalize on the rapidly advancing technology.
WHAT YOU NEED TO KNOW ABOUT WRAPPING YOUR CAR
Gaze around the next time you’re stuck in traffic and see if you’re not surprised, maybe even a little saddened, by the monochromatic sea around you.
BOEING POSTS A $355 MILLION LOSS AS THE PLANE MAKER TRIES TO DIG OUT FROM UNDER ITS LATEST CRISIS
Boeing said this week that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers.
WALL STREET IS LOOKING TO TESLA'S EARNINGS FOR CLUES TO MUSK'S PLAN TO RESTORE COMPANY'S WILD GROWTH
But Wall Street was unimpressed and will be looking for other answers from CEO Elon Musk when Tesla releases a report on its first-quarter finances after the U.S. stock market’s closing bell Tuesday.
THE SUMMER AFTER BARBENHEIMER AND THE STRIKES HOLLYWOOD CHARTS A NEW COURSE
“Barbenheimer” is a hard act to follow. But as Hollywood enters another summer movie season, armed with fewer superheroes and a landscape vastly altered by the strikes, it’s worth remembering the classic William Goldman quote about what works: “Nobody knows anything.”
INSIDER Q&A: TRUST AND SAFETY EXEC TALKS ABOUT AI AND CONTENT MODERATION
Alex Popken was a longtime trust and safety executive at Twitter focusing on content moderation before leaving in 2023.
APPLE PULLS WHATSAPP AND THREADS FROM APP STORE ON BEIJING'S ORDERS
Apple said it had removed Meta’s WhatsApp messaging app and its Threads social media app from the App Store in China to comply with orders from Chinese authorities.
APPLE SET TO UNVEIL NEW IPADS AT "LET LOOSE" EVENT ON MAY 7
Apple Inc. has officially announced its upcoming “Let Loose” event scheduled for May 7, signaling a significant showcase of new hardware, specifically focusing on the iPad line.
TIKTOK MAY BE BANNED IN THE US. HERE'S WHAT HAPPENED WHEN INDIA DID IT
The hugely popular Chinese app TikTok may be forced out of the U.S., where a measure to outlaw the video-sharing app has won congressional approval and is on its way to President Biden for his signature.
US ADVANCES REVIEW OF NEVADA LITHIUM MINE AMID CONCERNS OVER ENDANGERED WILDFLOWER
The Biden administration has taken a significant step in its expedited environmental review of what could become the third lithium mine in the U.S., amid anticipated legal challenges from conservationists over the threat they say it poses to an endangered Nevada wildflower.