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Business
Morgan Stanley analyst Ridham Desai flags strong Indian economy and equity upside
✍️ NDTV Profit
🗓 03 Nov 2026, 12:43 PM
👁 3
Morgan Stanley’s senior equity strategist Ridham Desai told NDTV Profit that India’s macro outlook remains robust and that Indian equities offer attractive valuation and growth prospects.
In a video interview with NDTV Profit, Morgan Stanley’s equity strategist Ridham Desai said the Indian economy is on a solid growth trajectory, supported by resilient consumption and steady fiscal reforms. He noted that recent data on GDP, industrial output and export performance reinforce confidence in continued macro‑economic stability.
Desai added that Indian equities are currently trading at attractive multiples compared with global peers, making them a compelling option for both domestic and foreign investors. Sectors such as information technology, consumer staples and renewable energy are expected to lead the next wave of earnings growth.
He cautioned that while the outlook is positive, investors should monitor inflation trends and global monetary policy shifts, which could influence market sentiment. Nonetheless, Desai concluded that the combination of a strong economy and favorable corporate earnings makes Indian stocks a “buy‑on‑dip” opportunity.
The remarks come amid heightened interest in emerging‑market assets, with several fund managers increasing exposure to India after the country’s recent policy reforms and infrastructure push.
Desai added that Indian equities are currently trading at attractive multiples compared with global peers, making them a compelling option for both domestic and foreign investors. Sectors such as information technology, consumer staples and renewable energy are expected to lead the next wave of earnings growth.
He cautioned that while the outlook is positive, investors should monitor inflation trends and global monetary policy shifts, which could influence market sentiment. Nonetheless, Desai concluded that the combination of a strong economy and favorable corporate earnings makes Indian stocks a “buy‑on‑dip” opportunity.
The remarks come amid heightened interest in emerging‑market assets, with several fund managers increasing exposure to India after the country’s recent policy reforms and infrastructure push.