Mobius remains optimistic on Indian software and infrastructure related stocks.

The Indian economy has reacted well to the ongoing slowdown in global markets on the back of government policies and a buoyant market, said veteran investor and Mobius Capital Partners’ founder Mark Mobius.

“The interesting thing is that India is really bucking this trend…and it speaks very well for the policies that the government has pursued and the general buoyancy of the Indian market is very good,” he said in an interview to CNBC-TV18.Talking about Indian stocks, Mobius is optimistic on software and infrastructure related stocks as he is of the view that these are the stocks that will perform well going forward.

The Indian economy has reacted well to the ongoing slowdown in global markets on the back of government policies and a buoyant market, said veteran investor and Mobius Capital Partners’ founder Mark Mobius.

“The interesting thing is that India is really bucking this trend…and it speaks very well for the policies that the government has pursued and the general buoyancy of the Indian market is very good,” he said in an interview to CNBC-TV18.

Talking about Indian stocks, Mobius is optimistic on software and infrastructure related stocks as he is of the view that these are the stocks that will perform well going forward.

The investor also expects India to likely take over more manufacturing share from China because foreign investors have continued to withdraw their capital from the Chinese markets.

“I think India is really beginning to take more and more manufacturing share from China…the bureaucracy is going to be very, very good for India, you can see more and more companies moving manufacturing to India,” he said.

Talking about the US, the investor expects the US Federal Reserve to continue raising interest rates, which is going to negatively impact stock markets. Well, my thinking is that the Fed will continue to raise rates .. I think after the election, (commodity) prices will come up again and the Fed will continue to put pressure on those interest rates and raise rates aggressively,” he added.

The Fed’s interest rate hike and its hawkish stance has continued to weigh on investor sentiment. At the end of its two-day meeting last month, the US central bank lifted its policy rate by 75 basis points for the third time to a 3.00-3.25 percent range. Mobius also advised investors that having gold in their portfolio will prove to be beneficial.

MONEYCONTROL NEWSOCTOBER 04, 2022 / 10:03 AM IST