India Holds No. 1 Spot in JPMorgan's Asian Markets

By siliconindia  |  Thursday, 18 January 2024, 14:48 IST

India Holds No. 1 Spot in JPMorgan's Asian Markets
According to Mixo Das, JPMorgan's Asian Equity Strategist, India holds the top position in Asia and is among the bank's preferred markets globally. Das emphasized India's status as the number one market, underscoring its significant advantages as companies adopt a 'China plus one' strategy. While Vietnam is a compelling choice for establishing manufacturing facilities, Das noted that India's substantial size and scale uniquely position it to either fully substitute or substantially augment the capacity sought by global investors and manufacturers.
In April, Apple inaugurated its inaugural retail stores in India and commenced iPhone 15 production in August, fostering hope that other major corporations would consider India as an attractive manufacturing hub. Existing companies with a presence in India are also expanding their production capabilities. Maruti Suzuki, the country's largest automaker, recently announced a $4.2 billion investment for constructing a second factory in India. 
Additionally, VinFast, a Vietnamese electric automaker, expressed its intention to invest approximately $2 billion in establishing a factory in India earlier this month. This surge in activity has further boosted investor confidence, complementing India's status as one of Asia's top-performing stock markets last year. The positive trend has extended into the new year, with both the Nifty 50 and BSE Sensex reaching record highs of 22,081.95 and 73,000, respectively, during Asia's afternoon trading session.

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