June 2, 2023

Great Indian Mutiny

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It will be difficult for India to beat China in the technology race Comment

India is poised for the next major technological investment success. Advanced foreign portfolio managers will stare at the Mumbai IPO list by supporting China’s pioneers. The successful introduction of Jomato is good. The food distribution company’s nonprofit had to sell most of its $ 1.3 billion concession to large funds. It doesn’t create a fabric in excitement. After a 66% increase in introductions, its value is 13.3 billion: 50 times the annual sales.

According to Credit Suisse, this is one of 100 Indian unicorns worth $ 240 billion. The superapp Paytm, the online insurance marketplace, PolicyBazaar, education technology online beauty retailers such as Payzus and Zebora are among the most popular.

They will add fuel to the relatively hot market. Over the past 10 years, the MSCI India Index has traded an average of almost 17 times more futures earnings compared to the MSCI China 11 times. In local currency, the Indian index has doubled the shareholders’ income.

Recent trips have been great as well. Diologic says Indian companies that went public last year outperformed the global average. There will be more money: According to the Paytm prospectus, only 3% of Indians invest directly or financially, compared to 13% in China.

Like the US and China, India is likely to have a few big winners. Zomato, for example, operates in a duel against Zwicky with the support of SoftBank.

The demand for Zomato is driven by technical factors that will support its inclusion in key codes over time. However, success can be a beacon for those who offer stocks and capital. Overseas companies such as Walmart’s Flipkart and Oyo Hotels & Homes may consider staying abroad. And China’s strong regulatory measures will send money back to India.

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