1. For India 10% growth is on cards; Bitcoin is giving tulips bad name, says global market expert Mark Mobius

For India 10% growth is on cards; Bitcoin is giving tulips bad name, says global market expert Mark Mobius

Bullish on the recovery made by the public sector banks (PSBs) post-recapitaliSation, veteran emerging markets investor Mark Mobius on Friday predicted India will now attract an increased amount of capital from the domestic and international investors.

By: | Updated: December 8, 2017 12:01 PM
Bitcoin is giving tulips a bad name. When people ask me on my views on Bitcoin, my views are mixed, said Mark Mobius. (Image: Reuters)

Bullish on the recovery made by the public sector banks (PSBs) post-recapitalisation, veteran emerging markets investor Mark Mobius on Friday predicted India will now attract an increased amount of capital from the domestic and international investors.  In an interview with CNBC-TV 18, Mark Mobius explained that riding on the aggressive privatisation programme launched by the central government and the latest sovereign ratings upgrade by the international agency Moody’s, India will now witness a nearly 10 percent growth. “We are in the mid-way of a bull market the market could move 20% higher than levels seen in 2007,” told he when asked about his further expectations from the stock markets. Upbeat on the decision made by the government to allocate more powers to the States, the investment expert expected this decision to leave a beneficial effect on the economy going forward. On being asked about the effect of GST implementation on the economy, He said: “GST implementation has been very complex and it’s beneficial if more power is given to the state.” Unimpressed by the recent upsurge in the value of Bitcoin, Mark Mobius said that the virtual currency represents a means of transfer and not the value. “Bitcoin is giving tulips a bad name. When people ask me on my views on Bitcoin, my views are mixed,” claimed the market expert.

Earlier in September this year, Mark Mobius revealed his greatest regret. After having spent more than four decades in analysing the emerging markets across the globe Mark Mobius said that the biggest regret in his life is not having started early. In conversation with Keith Damsell, the vice president at Global Internal Communications at Franklin Templeton, Mark Mobius said, “I wish I had started in the investment arena earlier than that because I spent many years studying. Of course, it now stood me in good stead, but I would say that’s the biggest regret.”

Giving the investors a glimpse into the future of stock markets across the world, Mark Mobius says that emerging markets may be redefined to be called high-growth countries in the next ten years as they are slated to see a lot of demand for consumer durables due to the burgeoning population. Writing specifically about India and China, Mark Mobius explained, “Well, look five or 10 years from now, you’re going to see these consumer markets become bigger than what you see in Europe, in the US. Because look, China, and India each have a billion people and their incomes are rising.

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