Currently, the government spending cycle, notwithstanding this year’s blip (which we think is a blip, and we will discuss the reasons later), looks to be on the path of continued increase. Secondly, PSUs today are more operationally efficient than they have ever been in the last 25 years of India’s history. Both of these factors give me conviction about PSU earnings and asset growth.
Export Promotion Mission sets unified path to strengthen India’s export competitiveness
India took a major step to strengthen its export ecosystem with the launch of the Export Promotion Mission (EPM), a unified framework approved in the