India - Time to Buy The Structural Growth At A Cyclical Dip?

Rob Pizzichetta (Mont Wealth) speaks with Mugunthan Siva, CIO of India Avenue Equity Fund, following Siva’s trip to India. They discuss India’s increased resilience to shocks, why Indian equities underperformed after 2020–24 strength (valuations running ahead of earnings, normalized earnings growth, Trump-era tariff impacts, West Asia war and oil spikes, and foreign outflows into AI-heavy markets like Korea and Taiwan), and where conditions stand now with tariffs around 15–18% and oil pulling back toward $80. Siva explains why large caps near 17x earnings look attractive, how India may benefit from later stages of the AI buildout via IT services and data centers, and forecasts for 6.5%+ real growth. He outlines portfolio tilts toward exports, manufacturing, pharma, and auto ancillaries, citing Mahindra as an example, and shares how to learn more at indiavenue.com.au. 00:00 Welcome and Disclaimer 00:37 India Trip Takeaways 01:19 Why Equities Pulled Back 03:10 Tariffs Update 03:40 Oil Prices and Inflation 05:31 Valuations and Long Term Case 06:10 India and the AI Wave 08:14 Growth Outlook and Flows 10:59 Portfolio Shifts and Themes 12:48 Sector Picks Pharma and Autos 13:52 Stock Example Mahindra 14:54 India vs China Comparison 15:41 Wrap Up and Fund Info https://indiaavenue.com.au/