Fri, Jul 5, 2024 3:08 PM
Mule: When random bank accounts of daily wage labourers receive windfalls!
A Flip by Shubhangi Gupta
About a third of 19 Asia-based strategists and fund managers expect Chinese and Indian equities to outperform in the second half of the year, driven by anticipated Federal Reserve interest-rate cuts, low valuations, and post-election optimism. EM stocks in Asia are already outperforming, with the MSCI EM Asia Index beating the broader MSCI Asia gauge by the most since 2009 in the last quarter.
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India's economy would need to grow at a rapid 7% rate to create 8-9 million jobs per year, still short of the 12 million needed to absorb new labor market entrants, according to Citigroup Inc. The country faces significant employment challenges, including low-quality jobs, with 46% of the workforce still in agriculture and only 21% having salaried jobs.
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Investors are flocking to Indian wealthtech startups, drawn to the country's growing middle class seeking to diversify their investments. As the affluent population expands, startups are capitalizing on the opportunity to offer new-age financial services, disrupting traditional models. This influx of investment is expected to fuel the growth of India's wealthtech sector.
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