Long-term prospects in India remain good, said Gokul Laroia, Co-CEO of Asia Pacific, Morgan Stanley, adding that both consumption and government investment have supported the growth. Morgan Stanley India is celebrating its silver jubilee.
“Private investment has been a big laggard and we have been calling for that to turn for a while. It hasn’t. However, if you think about where utilisation rates are now, they are higher than they have been over the past several years and typically that is a driver for private investment. So we think that the third leg will kick in; it’s taking a bit longer than we thought but eventually it will kick in,” he said.
Laroia said that growth potential for emerging markets (EMs), fundamentally, is better than the rest of the world.
Gokul has spent about 2 decades at Morgan Stanley, where he has held a number of leadership positions across the region. Prior to joining Morgan Stanley, Gokul spent four years at Citigroup.