Ramesh Damani on why Indian stocks will always trade at a slightly higher PE

“India might seem sluggish, but we are laying the groundwork for catching up with China in the next decade or so. It is imperative that we do that because we have so many young people coming to the workforce in the next four or five years. For India to compete with China economically and have military clout, it needs a GDP to match China's and that can only come through manufacturing and by creating manufacturing jobs.”

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