$85-bn fund manager bets on Indian markets amid recession fears elsewhere

US-based GQG Partners has more than $7 bn invested in India, where favourable demographics are driving local consumer demandIndia is best positioned among emerging nations to withstand a global recess

India is best positioned among emerging nations to withstand a global recession, as a thriving domestic market makes it less dependent on exports, according to US-based GQG Partners LLC.

The firm has more than $7 billion invested in India, where favourable demographics are driving local consumer demand, Sudarshan Murthy, a portfolio manager, said in an interview. GQG’s upbeat view on India bucks the nearly $30 billion exodus of foreign funds from the nation’s stock market this year.

“I’m puzzled by the extent of foreign outflows from India,” Murthy, whose firm manages $85 billion, said citing higher crude prices as a possible reason