India can offer one of the best, most diversified investment opportunities for investors: Srini Sriniwasan

New York: India can offer one of the best and most diversified investment opportunities for investors, a top Indian executive said, noting that it has done “all the right things” in the last 10 years as he cited the “pathbreaking” digital infrastructure across the country.

Srini Sriniwasan, Managing Director of Kotak Alternate Asset Managers Limited (KAAML), noted that the kind of changes implemented in India over the last 10 years has been “difficult changes” and they take time for that to have an impact in the market, as he cited implementation of the Goods and Services Tax, insolvency regulation, measures to ensure ease of doing business, reduction in corporate taxes as well as investments in infrastructure.

“India has done all the right things in the last 10 years or so. A lot of hard work has gone to build a certain foundation for what I would call long-term secular economic growth,” Sriniwasan told PTI in an interview here.

Underlining the fast pace of digital adoption in the country, Sriniwasan said “it's a very different India." “I do believe that some of the digital transformation that India has done on account of putting what we call as the digital backbone of the country is pathbreaking,” he said.

“Many of the other developing countries are actually wanting to emulate that. That is probably the best indication of what we have done is right. Putting digital infrastructure as a public good is a first-time concept that India has put on the map and others seem to be following it now,” he said, noting the payments infrastructure and direct benefit transfer that are benefitting people.

On the country’s growth prospects, Sriniwasan said that “on a risk-adjusted basis, India can probably offer one of the best and most diversified investment opportunities for investors." “Why do I say diversified? It's because if you look at some of the other markets, the indices in those markets are dominated by certain sectors,” he said.

“But to have a plethora of choices - be that healthcare, healthcare services, manufacturing, financial services, automotive manufacturing, auto component manufacturing - that kind of diversity is not available in very many places. That is unique about India,” he said.

“There are lots of things that are going to come out of India, which will be globally competitive and acceptable as a product out of India,” Sriniwasan said.

Kotak Alternate Asset Managers Limited (KAAML), a part of Kotak Mahindra Group, focuses on alternate assets management and investment advisory businesses. KAAML was set up in early 2005 and has raised/managed/advised over 18 billion dollars across different asset classes including Private Equity, Real Estate, Infrastructure, Special Situations, Private Credit and Investment Advisory. The asset management business and investment advisory vertical are managed by independent specialist teams.