356. India’s economic evolution: from food chains to pharma plays

Ajay Tyagi, manager of the UTI India Dynamic Equity fund, takes a deep dive into the changing dynamics of the Indian economy and equity market. He discusses how India’s growing middle class is driving consumption, which sectors offer long-term potential, and how global trade tensions are influencing market positioning. We also cover the outlook for small and mid-cap stocks and what rising per-capita income means for future growth.

What’s covered in this episode: 

• What has been the impact of Trump’s tariffs on India?
• What’s your initial reaction?
• Will tariffs impact holdings in the portfolio?
• What’s the outlook for India’s middle class?
• The IMF’s lowered growth forecast 
• The long-term appeal of the food services industry 
• What do valuations look like today? 
• Where are the small and mid-cap opportunities?
• Benefits of being a local asset manager
• Why the manager expects the government to do more
• Growth in the speciality chemical sector

More about the fund: UTI India Dynamic Equity fund invests across the market-cap spectrum of Indian companies. The investment process is based on quality, growth, and valuation, and the team conducts thorough on-the-ground research to identify and monitor companies with a high potential for significant market outperformance.

Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.