AUGUST 20228FIVE SECTORS TO WATCH FOR FUTURE MULTI-BAGGER STOCKS nvesting in share market is like gambling, one doesn't know what might come up next. It is always wise to invest in stocks for long-term. Long-term investors need to be disciplined and patient because they must be willing to accept a certain level of risk while they wait for greater profits in the future. The future of a company's product or service is the most crucial factor to take into account when investing in businesses over the long run. This means that for at least the next 10-15 years, the products should be in use. The last thing you want is for the product to become obsolete and the company to go out of business. Furthermore, it is important to invest in areas that are developing, to generate good long-term returns from stocks. Few sectors in India, such as technology, banks, mining, and others, were good in the past and developing at a decent pace. However, some of these sectors are hardly in trend these days.Hence, with changing times, one should invest in sectors that have scope for growth. Here's a list of five sectors that are expected to grow in the next few years.ChemicalThe sixth-largest chemical manufacturer in the world is India. Over 80,000 commercial commodities are covered by the enormously diverse chemical industry, which can be broken down into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilizers. India ranks 14th in chemical exports and 8th in chemical imports globally, making it a leader in both areas. The recovery of domestic demand and robust exports would cause specialty chemical producers' expenditure to rise by 50 percent YoY to US $ 815-842 million in the upcoming fiscal year. Despite a decline in polymer demand brought on by the COVID-19 epidemic, India's agrochemical and pesticide production are predicted to increase to 32 m tonnes by 2030. To promote domestic agrochemical production, the government advises implementing a production-linked incentive (PLI) program. In the Union Budget for 2022­2023, the Department of Chemicals and Petrochemicals received US $27.43 Million. The chemical industry has a bright future, and with rising demand and capital expenditure plans, one can anticipate strong profits from this industry.Green EnergyIndia has experienced the fastest increase in renewable energy capacity addition over the past seven years among all major countries, increasing 18 times from 2.6 GW in March 2014 to 49.3 GW by the end of 2021. The widespread use of sustainable energy has been made possible by quick technological breakthroughs, financial incentives from the government for solar panels, and the rising affordability of solar energy storage batteries. The solar industry has seen a lot of investments and advancements during the past few years. The Union Budget for 2022­23 included 1 billion rupees for the Solar Energy Corporation of India (SECI), which is currently in charge of the growth of the whole renewable energy sector. It has already conducted extensive central solar park auctions, awarding contracts for 47 parks with a combined capacity of more than 25 GW. In the future, it is expected that solar energy would contribute about 280 GW, or about 60 percent, of the nation's energy needs. India's renewable energy sector is forecast to grow in 2022 with an investment of US $ 15 billion, as the government focuses on the manufacturing of electric vehicles, green hydrogen, and solar equipment.IEditorial Exclusive By Bhanu Bhasin, SI Staff
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