This CIO is bullish on 4 sectors in 2024 irrespective of election outcome
1/5
Pro Talk
In an interview with ETMarkets, Rajesh Bhatia, chief investment officer at ITI Mutual Fund shared his insights on markets in 2024, the flow picture for India, and the top 4 sectors that he is betting on.
2/5
Automobiles
Bhatia is bullish on the automobile sector, which contributes 6% to India’s GDP and 35% of the manufacturing GDP. The EV market is expected to grow at a CAGR of 49% between 2022-2030 and is expected to hit 10 million-unit annual sales by 2030.
3/5
Financials
The sector has significant scope of growth through market penetration and digitization. The growth of fintech will help this sector tap the large rural market and the growing internet-savvy youth population.
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4/5
FMCG
According to Bhatia, it is a stable and resilient sector, even during the global pandemic it saw consistent demand. An all-weather sector is likely to continue to grow and get an impetus from rising customer aspirations.
5/5
Capital Goods
This includes sub-sectors like electrical equipment, plant equipment, and earthmoving/mining machinery, heavy electric equipment, etc. that would benefit from the government’s higher infrastructure push and schemes like PLI.