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Indian economy will rebound sharply next year, says Renaissance's Pankaj Murarka

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Indian economy will rebound sharply next year, says Renaissance's Pankaj Murarka

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Pankaj Murarka of Renaissance believes Indian economy will rebound very sharply next year and will surprise everyone.

Pankaj Murarka of Renaissance believes Indian economy will rebound very sharply next year and will surprise everyone.

“Markets need to take a pause or a breather and probably a pullback will be a good thing to have. This is one of the most ferocious rally that we have seen in a very long time that we have witnessed in the last nine months,” he said in an interview with CNBC-TV18.
“We are focusing on sectors which are related to domestic economy and which will significantly benefit from the recovery in the demand in the domestic economy,” he said.
In terms of IT and pharma, he said, “IT and pharmaceutical sectors has been flag bearers of India for exports on goods and services for the last 20 years. We see a significant increase or momentum in India’s manufacturing exports. Clearly we are seeing some initial signs in terms of what the government has done with the mobile handset or electronic manufacturing."
"I think they will roll out the insensitive scheme for some other sectors including APIs and auto ancillaries as well and gradually the government will roll out the PLI scheme for some other sectors of the economy as well. So manufacturing exports to our mind is the big story going forward for the next 5-10 years and India will become a power house in manufacturing exports.”
For entire conversation, watch video...
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