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Next year, India will have nominal GDP growth of 16%: Renaissance’s Pankaj Murarka

Updated : January 14, 2021 03:36 PM IST

Next year, India will have a 16-17 percent nominal GDP growth, says Pankaj Murarka, Founder of Renaissance Investment.

“It comes partly because of the low base of this year, but having said that I think the fact remains that we will have highest ever growth going into the next year," Murarka told CNBC-TV18.

The recovery will be broader with more sectors joining the market, he said.

“Given the strong growth that we are going to get in next year, we will see a very broad-based recovery in the economy. We will see more and more sectors participate in the market.”

On earnings growth, Murarka said, “Corporate India has been into an earnings recession on an aggregate basis for the last six years, pre-COVID as well and next year will mark the end of that. Next year our sense is that we will see a 30 percent plus kind of earnings growth in Nifty and that is going to base on FY20.

On portfolio calls, he said, “We are looking at sectors which will benefit because of based recovery in the economy and probably next year is when we will start seeing a revival in India’s investment cycle and which effectively means industrials and capital goods which have been one of the laggards over the last 10 years will see a recovery and do well from here on.”

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Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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