Macro Minutes: India, Market Leader or Laggard

In our latest Macro Minutes video, Capital Markets Research Analyst Galen Donaldson covers our top-down views of India.

Key Points

  • In India, we are likely to see temporary economic bounce before growth returns to pre-COVID conditions. The pre-COVID growth trend had been slowing.
  • India implemented supportive monetary and fiscal policy measures to offset the impact of COVID and support economic growth, but India’s history of expanding its deficit is mixed for equities.
  • Recent reforms have been modest and are unlikely to create enough optimism for sustained outperformance.


*The foregoing information constitutes the views of Fisher Investments based on information believed to be reliable. There can be no assurances that Fisher Investments will continue to hold these views. These views may change at any time based on new information, analysis, or reconsideration.
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Founded in 1979, Fisher Investments is an independent, fee-only investment adviser with $197 billion under management.* Fisher Investments maintains four principal business units, Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments Private Client Group International, which serve a global client base of diverse investors. The clients of Fisher Investments and its affiliates include over 100,000 clients. Founder and Executive Chairman Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 3/31/2022)