India Growth Story to Continue; Markets Seen Strong in 2024 on Global Liquidity and Robust Economy
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Indian markets expected to remain strong in 2024 aided by global liquidity flows and India's resilient economy. Budget unlikely to be a major disruptor.
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Fiscal deficit and current account deficit well managed. Time correction more likely than price correction for markets.
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Policy continuity expected in budget. Focus to remain on infrastructure, manufacturing, defence to promote growth and self-reliance.
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Capex spending on infrastructure and manufacturing likely to continue to have multiplier effect. Disinvestment targets to remain modest.
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Equity investments can be staggered over 6 months given rich valuations. India offers diversification benefits for global investors.