Ajay Tyagi, manager of the UTI India Dynamic Equity fund, focuses on India’s economic growth, market trends, and demographic advantages. He highlights the impact of India’s young, increasingly affluent population on sectors like consumer goods, tech, and financial services. We also discuss how despite high valuations, India’s steady growth trajectory and quality-focused investment opportunities remain appealing to long-term investors. Ajay mentions key sectors to watch, the "China Plus One" strategy in manufacturing, and why India’s politics are advantageous for business.

What’s covered in this episode: 

• The boringly steady economy
• Why India’s valuations are high compared to their history
• …and wider emerging markets
• Finding value in an expensive market
• What sectors typically make up “value” in India?
• The fund’s market cap agnostic approach
• Why the chemical sector looks appealing today
• How the China Plus One policy has impacted India
• The effect of steady politics in India
• Economic growth is a function of three things
• What does 2025 look like for India?
• Which sector is the manager “supper bullish” on?

More about the fund: UTI India Dynamic Equity invests in a mix of large, mid and small-cap Indian companies. The investment process is based on quality, growth, and valuation, and the team conducts thorough on-the-ground research to identify and monitor companies with a high potential for significant market outperformance.

Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.