Key Points
Since the great financial crisis (GFC), India is the only country where there has been deleverage as compared to developed worlds which would have kind of leveraged almost 2 to 5x compared to what they were pre-GFC..
Poddar further says that whether it is a healthcare crisis or an energy crisis, India has shown characteristics of being anti-fragile and come out much stronger..
In the new year or 2023, we are seeing a slurry of bad news as such rather it started from one large group of news as far as India is concerned and post that, we have seen the fall of banks in the United States, Credit Suisse changing hands at a very cheap valuation..
We have already seen in 2022 as well as the start of 2023, global FIIs coming out and selling out their investments in India but this seems to be a larger play where lower liquidity is what is impacting the outflows..
As far as the order book continues to be strong, it can be the domestic private capex companies, the ABB Siemens kind of companies or smaller companies as well..
