My guest today is Saurabh Mukherjea, the founder and Chief Investment Officer of Marcellus Investment Managers. Saurabh is one of the most articulate fund managers in India, and today, he lays out a compelling case for investing in the country. We start by contrasting India with China and explaining why China receives all the attention despite the much better results from the Indian market. We also cover the bull case for India, the rise of domestic inflows in India, the Indian bond market, and close with a discussion of the risks and the themes Saurabh is excited about over the coming years. Please enjoy this conversation with Saurabh Mukherjea.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes:
(00:00:00) Welcome to Making Markets
(00:01:05) Meet Saurabh Mukherjee: India's Articulate Fund Manager
(00:01:18) India vs. China: A Market Comparison
(00:01:26) The Rise of Domestic Inflows in India
(00:01:33) Challenges and Risks in Indian Markets
(00:02:17) Why India is Oversold to American Investors
(00:03:59) The Flow of Capital: India vs. China
(00:08:30) The Impact of Political Dynamics on Markets
(00:09:55) China vs. India: Private Sector Relations
(00:11:19) Foreign Direct Investment (FDI) in China and India
(00:13:37) Perceptions of Free Market Democracies
(00:15:31) Media Influence and Market Trends
(00:18:45) The Role of Domestic Investors in India
(00:20:19) Wealth Distribution and Investment Trends
(00:21:18) Impact of COVID-19 on Market Participation
(00:24:16) Regulatory Perspective on Market Growth
(00:24:38) Social Shifts Driving Market Trends
(00:27:36) Angel Investing Boom
(00:28:18) Debt and Corporate Balance Sheets
(00:34:31) The Bull Case for India: Key Themes
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