India, as the second largest country in the world, has attracted the attention of global investors with its huge market size, young population dividends, and constantly open economic policies in recent years.The Indian government actively promotes the "Indian manufacturing" and digital Indian strategy, and is committed to improving the foundation of the manufacturing industry, strengthening scientific and technological innovation, and optimizing the business environment.At the same time, with the positive adjustment of fiscal policies and the steady growth of macroeconomics, the Indian stock market has shown vitality.In the global asset allocation layout, the Indian capital market provides new opportunities for investors who seek value depression and long -term returns with their diversified, high growth and gradual legal environment.
In the long run, India has a strong economic growth and is expected to be optimistic.India, as the fifth largest economy in the world (calculated by GDP), has strong economic growth in recent years and is optimistic.After entering the 21st century, India effectively suppressed the high inflation problem that had long -term trouble in the country through the implementation of monetary policy and fiscal policy reform.Especially after 2013, the Indian central bank adopted the inflation target system to set the 4%2%inflation target interval, effectively anchoring the inflation expectations.At the same time, the government has adopted measures such as tightening subsidies and optimizing fiscal expenditure to successfully reduce the fiscal deficit and ensure the stability of inflation.
Figure 1: Indian producer and consumer price index changes
Data source: CEIC
India has huge potential for population dividends, and its population structure is similar to India’s situation 10-20 years ago.It is expected that by the end of 2024, India’s population will exceed 1.4 billion, and in the near future, it will surpass India to become the country with the largest population in the world.India’s support ratio will not continue to decline until 2040, and the peak of the labor population will not come in 2035.India’s population structure shows a healthy pyramid shape. Young people under the age of 35 accounted for 65%, with an average age of only 28.6 years old, ensuring the continuous demographic dividend in the next decades.
Figure 2: Comparison of raising ratio in major countries
Data source: United Nations Department of Statistics
Although the current urbanization rate and labor participation rate of India are low and the women’s labor participation rate is not high, the steady increase of its huge total population and the steady increase of higher education entry rates indicate that the quality of the population is approaching India’s level ten years ago.EssenceThe low labor cost of India has further strengthened the dividend effect.Udabur Stock
Figure 3: Admission rate for higher education in India and India
Data source: World Bank
With reference to India’s experience in economic leaping with the help of demographic dividends in the past two decades, India is in a similar stage. It is expected to drive the economy to continue to grow through huge and young labor teams, gradually improved population quality, and low -cost advantages.At the same time, with the growth of the middle class and the upgrade of consumption, India is expected to fully release the potential of demographic dividends and achieve rapid economic growth.
In the process of industrial development, the development of the tertiary industry in India has always been better than that of the second industry. It has not experienced a more alternative stage of most countries in the normal development rules.This is related to the development strategy of India’s industry. In the context of the high proportion of agricultural population and weak industrial foundation, India chose to bypass the new model of industrial direct development service industry.Compared with the secondary industry, there are fewer infrastructure construction in the needs of the tertiary industry, the construction cycle is short, and the profit performance is often better.Under the form of offshore outsourcing and multinational mergers and acquisitions, India quickly undertakes overseas capacity, and the development momentum of software, finance and other industries has developed rapidly, driving economic and economic development.
Figure 4: Indian industry structure
Data source: Wind, Guoxin Securities
In addition, the Indian government actively promotes the "Indian manufacturing" policy, with a view to turning India into a global manufacturing center and changing the situation of excessive dependence on the service industry.Since 2014, the "Indian Manufacturing" initiative advocated by Prime Minister Modi aims to increase the proportion of manufacturing in the manufacturing industry, and to implement a series of measures such as staging manufacturing plans and production links in stages, such as different tariffs and large -scale industrial incentives, etc.Successfully attracted a large number of foreign capital and guided the industrial chain to the local area.In particular, focusing on high -value -added fields such as electronics, automobiles, photovoltaics, and pharmaceuticals, it has promoted India to achieve significant growth in these industries. For example, the mobile phone manufacturing industry has jumped to the second place in the world and the export volume has risen sharply.
In summary, by actively implementing the "Indian manufacturing" policy and cooperating with expansion, India is striving to achieve industrial transformation and upgrading, effectively using its huge market advantages and continuous improvement of population dividends, and gradually grow into global economic development.Emerging engine.
At the same time, the value of the Indian Rugs is relatively stable, which has better guarantee the security of investment.In the context of the intensified geopolitical conflict, India’s positioning is clever, and its geopolitical opportunities are greater than risks.
The target ETF invested by the ICBC Indian Market Fund is mainly listed on developed markets such as the United States, Germany, Britain, France, Switzerland, Singapore, India, Hong Kong, and Japan.These developed market exchange itself has a mature mechanism and can ensure the normal operation and transactions of the ETF listing.
The fund manager will pay attention to the changes in the market in real time, and dynamically adjust the proportion of the investment portfolio, the exchange of the ingredient fund, etc. In the market environment with a high requirements for the combination, timely increase the proportion of liquidity assets to ensure the portfolioWith sufficient liquidity response to possible scale changes.
The industry distribution of ICBC India Market Fund is compatible with the industry distribution of the MSCI India index. It is slightly more important in the three subdivided industries of finance, energy, and industry. It can better represent the industry structure of the Indian market.
Risk reminder: This material (activity) is provided by ICBC Credit Suisse Fund Management Co., Ltd. (initiated)Udabur Investment. The fund manager manages and uses fund property in accordance with the principles of dedication, honesty, and diligence in accordance with the principles of dedication, honesty, and diligence.EssenceFund’s past performance does not indicate future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of fund performance.This fund is a fund in the fund and is mainly invested in related funds (including ETF) that tracks the Indian market overseas, and strives to achieve an effective tracking of the Indian stock market trend.The long -term average risk and expected return of the fund are higher than mixed, bond funds and currency market funds.This fund is a global securities investment fundNew Delhi Investment. In addition to the market fluctuation risks similar to domestic securities investment funds, the Fund also faces special investment risks facing overseas market investment such as exchange rate risks.The fund has risksSimla Investment. Before investor investing in the fund, investors should carefully read the "Fund Contract", "Recruitment Manual", "Fund Products Property Summary" and other fund legal documents.Based on the appropriate opinion, select investment varieties suitable for their own risk tolerance for investment, and fund investment must be cautious.(advertise)
Ahmedabad Investment