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Election verdict: India in a sweet spot to attract foreign capital, says IIFL's Nirmal Jain

Mumbai | May 23 2019 15 : 35 IST | CNBC TV18

In the longer term, India is well-placed to outperform other emerging markets as well as global markets, Jain said.

The strong mandate for the incumbent government would revive economic growth and help address slowdown issues as bolder steps to speed up reforms and tackle fiscal deficit can be taken, says Nirmal Jain, Founder and Chairman of IIFL Group.

“India at this point is in a sweet spot to attract a lot of foreign capital, not only in market, but also by way of FDIs and that can give impetus to growth. There is lot of foreign capital sitting on the fence particularly because China is slowing down and investors are wary of US-China trade issues. Moreover, a stable government would encourage Japan to invest more,” he pointed out.

In the longer term, India is well-placed to outperform other emerging markets as well as global markets, Jain added.

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