FTAs, electronics and renewables: Investec’s Mukul Kochhar bets on India’s export-led growth

Mukul Kochhar, Head of Equities at Investec Capital Services (India), says India is at the start of a multi-year manufacturing export cycle as free trade agreements (FTAs), lower energy costs and stronger corporate balance sheets improve competitiveness. He expects electronics to be the biggest beneficiary, followed by auto components, textiles, chemicals and pharma. Kochhar also sees value in banking, remains positive on renewable utilities, and says stocks are well placed to benefit from India’s expanding manufacturing and export ecosystem.