India likely to outshine China in 10 years: JP Morgan
India and the other emerging economies are expected to witness high growth, asset manager for institutions and financial intermediaries JP Morgan AMC said on Thursday. HT reports.business Updated: Aug 26, 2010 22:56 IST
India and the other emerging economies are expected to witness high growth, asset manager for institutions and financial intermediaries JP Morgan AMC said on Thursday.
While China is still the world's best growth story, India may emerge as a better story in the next ten years, the fund house said.
JP Morgan expects a "soft landing" in China, which may act as a catalyst for increased portfolio inflows into Asia and emerging markets that have also shown economic decoupling.
"Emerging market economies have recovered quickly from the recession, showing a surprising degree of resilience and economic decoupling," said Geoff Lewis, head of investment services, JP Morgan AMC, Hong Kong.
The AMC views that India's growth story is intact as it is driven by domestic economic growth rather than by external factors. It expects the Sensex earnings per share (EPS) to double by 2013-14.
"I expect the earnings growth of Sensex companies to be around 25 per cent for the next 3-5 years, which is very attractive," said Rukhshad Shroff, investment manager and India country specialist, JP Morgan AMC, Hong Kong.