60%
Services
- Information technology
- Telecom
- Consumer technology
Why India
A country in transition, at its most opportune time to invest.
High return on equity, combined with growth and greater stability — the foundation for lower risk and higher returns.
The opportunity
The fastest-growing large economy in the world, and it is growing at scale.
India is a $4-trillion economy compounding at roughly 7% a year — firing on all cylinders across services, manufacturing and agriculture. Over the last two decades, some 300 Indian companies have compounded their value 25-fold. Our task is to translate that opportunity into investment outcomes.
$4 tn GDP, growing at roughly 7% a year
~50% A rising, aspirational middle class
15% Household debt — against ~62% in China and the US
300 Companies that compounded 25× over two decades
The growth engine
Three parts of the economy, each in its own transition.
25%
Manufacturing
- A serious rebound, with high capacity utilisation
- China+1 supply-chain shift
- New areas — renewables, electronics
15%
Agriculture
- Highest exports on record last year
- New trade deals
Rising prosperity
A humongous local consumption market, still early in its climb.
- Per-capita income rising from roughly $3,000 toward $10,000.
- A middle class near half the population, incomes climbing from $5K to $15K and from $20K to $50K.
- Among the lowest per-capita consumption in the world across categories — from shampoo to pizza to insurance — leaving a long runway of penetration ahead.
Entrepreneurial spirit
Where undiscounted change tends to originate.
- Companies adding branded businesses or building scale
- Product companies emerging out of India
- Import substitution across medical consumables and specialty chemicals.
- An environment buzzing with new firms — a unicorn count set to grow
Built to last
Stable, long-term growth on modern foundations.
- A stable democracy with a strong judiciary and regulators.
- Social, economic and political stability — the foundation for a long runway of growth.
- Twenty-first-century digital infrastructure already in place: cheap, high-speed internet and instant digital payments.
High return on equity, combined with growth and greater stability, leads to lower risk and higher returns.
Enquiries