1 September 2023
As highlighted in our recent executive summary, India’s growth agenda is already paying dividends via the drivers of formalisation and digitisation that catalysed reinvestment in manufacturing. The result: the country’s macro economy has become more resilient with increased capital expenditure and industrial order books, as well as a narrowing current-account deficit and a healthier inflationary picture.
This thought leadership piece offers an in-depth look at how the current economic foundation, based on key government reforms, has enabled the economy’s next compelling stage. The paper further introduces the new drivers of growth, classified as the 5Ds: Digitisation, Deglobalisation, Decarbonisation, Demography and Deficit Reduction. They are poised to reshape the country’s commercial environment across diverse sectors, and we believe they should represent a paradigm shift for the Indian economy and how investors view it.
Given the current market environment, this piece highlights how Indian equities may participate in the country’s long-term growth story amid policy continuity and a stable regulatory environment. Overall, we think the asset class potentially presents sustainable growth opportunities at an uncertain time when the global growth outlook and corporate earnings environment remain unsettled.
Quick comments on Moody's cut US credit rating
On May 16, credit rating agency Moody's Ratings downgraded the United States' credit rating from Aaa to Aa1. Alex Grassino, Global Chief Economist, together with the Multi-Asset Solutions Team (MAST), Macroeconomic Strategy Team, share their latest views.
The implications of recent trade policies on Greater China equities
The latest development in tariff-centric trading policies has been on the market’s radar, with a recent retaliatory announcement by China that imposed a 34% levy on all US-imported goods. In this note, we examine the measures more deeply and assess their impact on Greater China equities.
Quick thoughts on US reciprocal tariffs
The US President Donald Trump announced reciprocal tariff details on 2 April, 2025, which has introduced volatility to the financial markets. Alex Grassino, Global Chief Economist, along with the Multi-Asset Solutions Team (MAST), Macroeconomic Strategy Team, share their latest views.
Quick comments on Moody's cut US credit rating
On May 16, credit rating agency Moody's Ratings downgraded the United States' credit rating from Aaa to Aa1. Alex Grassino, Global Chief Economist, together with the Multi-Asset Solutions Team (MAST), Macroeconomic Strategy Team, share their latest views.
Riding the wave: building resilience amid volatility
On the back of escalating tariffs between the United States and other parts of the world, markets have dropped significantly as economic growth concerns have risen and investor sentiment and consumer confidence have destabilized, with some markets tiptoeing precariously on the precipice of bear market territory as of this writing.
Macro meets markets: 5 investable themes to watch
The intersection between the macro backdrop and the market setting investors must navigate has perhaps never been more apparent than it is today. The five themes discussed below highlight this critical intersection.
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