India Positioned as Prime Destination for Emerging Market Investment, Says ETF Expert

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23/12/2023 18h11

India's robust population demographics, thriving economy, and technology-oriented policies have made the country an ideal site for emerging market investment, according to Kevin Carter, founder and chief investment officer of EMQQ Global.

In an interview with CNBC's "ETF Edge," Carter emphasized the unique strengths of India as an investment destination. He highlighted India's democratic government's support for technology initiatives and the unmatched talent pool that the country possesses. Carter labeled India as the "perfect emerging market" due to its favorable conditions for investors.

Carter specifically emphasized the significance of India's technology investments, mentioning the revolutionary Jio Bharat smartphone. This smartphone aims to bridge the connectivity gap between rural and urban populations in India, bringing billions of consumers online for the first time. This development, according to Carter, has transformed the financial system in a country with a population exceeding one billion people.

One notable impact of India's technology investments is the facilitation of approximately 800 million people opening digital bank accounts using their fingerprints and eyeball recognition. Additionally, it has resulted in approximately 500 million new smartphone subscriptions. By leveraging technology, India has successfully brought a vast majority of its population into the financial system.

Carter manages the India Internet & Ecommerce ETF (INQQ), which focuses on Indian e-commerce and internet companies, targeting growth in the country's digital economy. According to the fund's website, as of December 22, its top holding is Reliance Industries, the conglomerate behind the successful $12 smartphone boom in India.

Carter acknowledges that India's digital foundation is unparalleled, stating, "No other country on the planet has anything like this in terms of a digital foundation for their entire economy." India's commitment to developing its digital infrastructure has positioned it as a leader in the global digital market.

Investors are increasingly recognizing the potential of India as an emerging market. Its tech-savvy population, favorable government policies, and booming digital economy have created a conducive environment for investment opportunities. As India continues its technological advancements, it remains an attractive option for investors seeking long-term growth and stability.

Disclaimer: The information provided in this article is based on statements made by Kevin Carter, founder and chief investment officer of EMQQ Global, during an interview with CNBC's "ETF Edge." Readers are advised to conduct further research and consult with a financial advisor before making any investment decisions.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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