India's Consumer Tech Stocks Outperform China, Attracting Global Investors in 2023
India's consumer technology stocks have witnessed remarkable growth in 2023, outperforming their larger counterparts in China and creating a significant divergence between the two major equity markets. This trend reflects a broader shift as global investors seek opportunities beyond China. Despite having a smaller market cap and revenue compared to China, Indian companies are garnering investor interest due to their growth potential and favorable relations with the West. Meanwhile, Chinese growth stocks are grappling with geopolitical and regulatory challenges, resulting in a lag in performance. Indian Consumer Tech Stocks Soar, Outshining Chinese Counterparts. India's Robust Growth Story: Investors are increasingly drawn to India due to its compelling consumption narrative, making it one of the most promising markets in Asia. Analysts, such as Rajat Agarwal, Asia equity strategist at Societe Generale SA, highlight India's under-penetrated digital tech market and its immen...