Indian govt needs to focus on structural challenges: Sanger
Finance Minister Arun Jaitley is in United States of America to hard sell the India story – after the Modi government took charge, the mood was upbeat but one year hence they seem to have hit a speed-bump and most market-watchers believe that the government has not fast-enough with reforms and equities too have come off their record highs. Arvind Sanger of Geosphere Capital in an interview to Shereen Bhan live from outside Nasdaq said he would like the FM to make commitments towards handling structural challenges with regards to power shortages and banking.
He would also be keen to hear more with respect to subsidy management and investments in infrastructure. Answering a query on way forward for the market, he said the June quarter may not be as bad as the March quarter, which was the worst quarter for corporate India in many years. He is cautiously optimistic on India in the short-term but believe it to be strong from a medium to long-term perspective. He is upbeat on the consumer sector driven by urban consumption, NBFCs and autos to some extent.