Market veteran Shankar Sharma in an interview with CNBC-TV18 said that it is a good time for India to grab the manufacturing opportunity due to the China, Russia imbroglio.
"On the manufacturing side, there is definitely a movement. I find a lot of companies saying that the offshoring of contract manufacturing etc. is a real story. Also in the BRIC nations, India does stand out and that is a testimony to the fact that India is a liberal country, it has a framework for running the country well, it doesn't get involved in extraneous matters, and that is why the world likes India. So, it is time India stands up and grabs this opportunity because I do believe there is a significant amount of manufacturing that India is going to capture in this whole China, Russia imbroglio."
He added that the recent up move in crude has been a surprise and investors had no idea of the headwinds that they are currently seeing.
"The carnage in the market has been focused on the financials. Also, I don't remember the last time you would see a print of 52-week low on marquee FMCG names like HUL and Asian Paints. When people want a five-year view, I always tell them you have no idea even five months out what is going to happen," he said.
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First Published: Mar 11, 2022 4:31 PM IST