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Tapping into India’s economic growth

Investors have increasingly turned their attention to emerging markets, as economic growth stagnates in the developed economies. Paul Mesburis, Senior Portfolio Manager at Excel Investment Council Inc., tells BNN India offers investors compelling returns.

“We believe the strong long term fundamentals are intact in India,” he tells BNN. “We expect the economy to grow at over 8 percent in each of the next two years.”

Mesburis says he is focusing on the technology, financials, materials and consumer staples sectors. A few of his top picks for investors:

ICICI Bank: Mesburis says the bank has over two thousand branches and a strong corporate banking franchise. ICICI recently reported profit growth of 44 percent.

Infosys: Recent earnings were weaker than expected. But Mesburis says the IT and outsourcing firm is sending bullish signals about future growth by increasing its workforce by 30 percent.

Shriram Transport Finance:  The leading finance company for pre-owned commercial vehicles in India, Mesburis says, with over 500 locations across the country.

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