Multi-Decadal

Growth
Opportunities

ABOUT THE STRATEGY

India
Kanchenjunga, highest peak in India (Sikkim)

India’s narrative is a captivating tale of transformative growth, underpinned by a multitude of factors that herald a new epoch of investment potential.

The government’s reformative approach to economic policies is setting the stage for sustained expansion. By creating the right enabling conditions for growth through the development of digital, social, and physical infrastructure, India is becoming an enticing destination for investors searching for higher growth.

KEY FEATURES
OF INDIA

Fastest Growing Major Economy

India is currently the world’s fastest-growing major economy and is on track to become the world’s third-largest economy within this decade. 

Young, Dynamic Population

With over 1.4 billion people and a median age of just 28, India boasts a young and vibrant population that is driving consumption and innovation. 

Outsourced Services Hub

Vast pool of technical talent and large English-speaking population make India a competitive hub for outsourced services.

Manufacturing Hub

The “Make in India” initiative has positioned India as a global manufacturing destination, attracting investments to sectors like automobiles, electronics, specialty chemicals, engineering goods, and pharmaceuticals.

Digital Transformation

India is experiencing a digital revolution, with rapid adoption of technology unleashing productivity gains and innovation across various sectors.

INDIA– HOME TO
MULTIBAGGERS

India's robust economic growth, driven by its burgeoning consumer market and digital transformation, has given rise to a thriving entrepreneurial ecosystem. This has paved the way for a new breed of founders, spearheading innovative businesses poised to become multibaggers.  

At the forefront of this revolution are agile young companies, which have historically outperformed their large-cap counterparts. These companies often lead in nascent categories, benefiting from market adoption and scale as the economy and consumer preferences evolve. As these businesses reach critical mass, market confidence in their longevity and growth potential increases, resulting in valuation re-ratings.

Many of these multibaggers began as undiscovered small-caps with limited research coverage, presenting unique opportunities for on-the-ground investors. By identifying these companies early, we believe we can capitalize on these hidden stocks before they gain mainstream attention.

It & Healthcare Have A Strong Hit Rate Of Multibaggers In India

India Map
Source: FactSet alpha tester, Jefferies, May 2024; Note: Companies with market cap and ADTO more than US$50mn and US$0.5mn at the start. Multibaggers are stocks that have tripled (+200%) while outperforming local market index in 5 years.

Navigating INDIA’s
Market Opportunity

India's economic landscape is a dynamic blend of rapidly growing sectors and traditional industries, each shaped by unique regional, political, and regulatory factors. With Indian equities boasting high valuations after a decade of strong performance, it takes seasoned expertise to navigate these waters, identify the right investment opportunities, and minimize downside risks.

At Shikhara, our team of seasoned investment professionals brings a strong history of investing in Indian equity markets. Our dedicated analysts on the ground in India provide invaluable insights, enabling us to pinpoint the most promising opportunities.

Meanwhile, a key differentiator of Shikhara is our ability to draw on our research team’s geographically diverse experience across Asian markets. This is critical as we see trends replicating across the world – often beginning in innovative and more developed regions such as China and South Korea before spreading across Asia and other parts of the world.

For instance, our observations on infrastructure and consumers moving up the income curve in China, mirror the current trends in India, where infrastructure development is driving job creation and boosting household incomes, fueling demand for new consumption categories such as tourism.

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Given our investment team’s experience, we endeavor to assess the strength of a company’s business model, the ability of a management team to scale up, and the key parameters to look for when determining future sector winners.

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