Ajay Argal
Birla Sun Life AMC Ltd. by Diana Cawfield 10 Nov 06
Manager says growth in India is here for the long run.
Ajay Argal, co-manager of the $177.9-million Excel India, believes that the India growth story is a sustainable one.
"India is no longer a market for short-term players," says Argal, a senior portfolio manager with Birla Sun Life AMC Ltd. in Mumbai, India. "There is broad-based growth happening and the opportunities are spread out in many, many sectors."
Argal sees three broad trends driving the growth story: capital investment, consumption and outsourcing. He says capital investment will be spurred as industries reach their capacity constraints.
Argal is seeing a lot of industries, such as oil refining, cement and steel, that are operating at capacity levels he has not seen in the last 10 or 15 years. He says the manufacturing sector has been growing at 8% to 10% over the last three years.
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