“The pick-up in inflation starting in the summer of 2021 was quite obvious to me and I can see certain signs that in six months, we will turn the corner. If that is the case, I am pretty sure the central bank will again change the rhetoric and so that background will have gone. When the Fed policies turn, western markets will probably rally a lot more than India. But until that time, unless there are huge policy mistakes in India, it will stay expensive relative to other markets.”
Read More