India is becoming a hot market for investment thanks to its booming economy, stable currency, strong stock market and growing working age population. Franklin Templeton's Yi Ping Liao describes the South Asian country as "a fertile hunting ground to identify stocks." "India has much more stable sort of macro environment compared to other countries.
Within consumption, she is watching the premiumization wave, given the rise in the India's middle- and high-income population. About 80% of Indian households in 2030 will be in the middle-income bracket, a report by the World Economic Forum and Bain & Company estimated in 2019, up from about 50% that year. And the nation's middle class that will drive 75% of consumer spending in 2030, the report added. Meanwhile, about 20 million will join the high-income bracket, it said.