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Coronavirus won’t have large impact in India, say investors at Mint India Investment Summit
Many companies across the country are taking a slew of precautionary measures to contain the spread of coronavirus.
Coronavirus is spreading fast in India, and has infected close to 30 people. But the investors are not disheartened and do not see any long-term impact when it comes to betting on India.
“Some of the best companies that you might want to invest in are now within a stock price range that you could afford. As for our portfolio companies, we just have to ensure that we stand by them through this time. We’ll help them through the crisis. We see a long term demand slowdown of maximum two years due to this which is not a large impact,” said Sandeep Naik, Managing Director & Head India and Southeast Asia, General Atlantic, according to Livemint.
Naik was speaking at the Mint India Investment Summit being held at Mumbai.
Anuj Ranjan, Managing Partner, Brookfield Asset Management and CEO of India and Middle East, said, his company invests in businesses for the long term.
“We are an investor and we invest in businesses for the long term. Geo-political events keep happening but we look at businesses from a 10-year horizon,” said Ranjan, according to Livemint.
Many companies across the country are taking a slew of precautionary measures to contain the spread of coronavirus.
IT firms in Haryana’s Gurugram have asked staff to work from home. Nagarro, a Gururgam-based software company, asked its employees to avoid non-essential travel, and work from home unless it was necessary to come to the office. The companies have also asked their staff to take preventive measures and avoid crowded areas.
Manesar-based exporters and those in Udyog Vihar have restricted foreign travel and asked their buyers to postpone visits to India.
Hundreds of people who could have come in contact with the three patients are being closely observed while the authorities work up a plan to trace the possible spread of the virus.
Coronavirus has spread to as many as 60 countries across the globe and has claimed over 3,000 lives worldwide.
