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Indian Debt Attractive, But Headwinds Deter Foreign Flows: Fund Managers
Overseas investors have pulled around $1.93 billion from Indian debt so far this year. Since then, the rupee has recovered 2% to trade near 81.60. Moreover, India's fundamentals have not instilled enough confidence, with the current account deficit expected to widen to 3.3% of GDP in 2022/23, as per a Reuters poll, and inflation staying consistently above the central bank's target band, investors said. "But in the medium term, we do think the fundamentals for India can improve due to its high economic growth rate, continued economic reforms and ability to attract foreign direct investment", said Johnny Chen, emerging markets portfolio manager at William Blair. Indonesia also remained another favourite when it came to buying emerging market bonds. Source - NDTV #stockmarket #shares #india
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