India poised for solid growth in 2022, bets top fund manager Prashant Jain

India poised for solid growth in 2022, bets top fund manager Prashant Jain

Structural growth drivers and supportive external environment bode well for India’s growth story, said Prashant Jain, Executive Director and Chief Investment Officer, HDFC AMC.





January 21, 2022 / 08:05 AM IST





Representative image.



“Every storm runs out of rain just like every dark night turns into day” — that’s the optimism exuberated by Prashant Jain, Executive Director and Chief Investment Officer, HDFC Asset Management Company as the world recovers from two long years of COVID-induced perils. He said this while hosting a virtual webinar on the global economy and equity markets on January 20.

After coming to a standstill in 2020 due to the pandemic, the global economy witnessed a robust recovery in 2021. Jain suggests that the “global economy has bounced back to the pre-pandemic path and most major economies, except Japan, have recovered the nominal output lost during the pandemic”. This growth was driven by fiscal and monetary stimulus provided by governments and central banks, vaccination, reopening of economy and pent-up demand.

China’s economic recovery was driven by strong global demand that aided exports along with measures by the government to revive the infrastructure and manufacturing sectors.

Jain expects growth momentum in advanced economies to soften as