India may be on the verge of an export-led growth cycle similar to what China experienced after it entered the World Trade Organization (WTO), Saurabh Mukherjea, Founder of Marcellus Investment Managers, said at the ET Alpha Wealth Summit on Thursday.
He believes a combination of free trade agreements (FTAs), a weakening rupee, and shifting global supply chains could create a massive opportunity for Indian exporters over the coming decade.
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Speaking at the event, Mukherjea outlined three themes that he finds particularly attractive: export-oriented Indian companies, small and mid-cap (SMID) companies in developed markets, and high-quality Indian financial services firms.
Mukherjea drew parallels between India's current position and China's strategy in the 1990s. Before entering the WTO, China sharply devalued its currency, improved export competitiveness, and went on to deliver decades of export-led growth.
While India is pursuing bilateral trade agreements rather than WTO-led integration, Mukherjea believes some of the conditions for a manufacturing and export boom are beginning to emerge.
