India - Time to Buy The Structural Growth At A Cyclical Dip?
- E76
- 16:45
- June 19th 2026
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/
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