Amid fears of a global recession, India is seen as oasis for investors

AGAINST the backdrop of the so-called China+1 strategy where more businesses and investors are looking to diversify beyond China, one country that is seeing increased attention is India.

Just last month, Apple began production of its new iPhone 14 models in India, ahead of schedule. Earlier this year, India overtook the UK to become the world’s fifth-largest economy. One might even go as far as to say that India is well placed to shake off its “Fragile Five” status, having been lumped together with the emerging market economies of Brazil, Indonesia, South Africa and Turkey nearly a decade ago.

While India has plenty of competition in the region – notably from the likes of Indonesia, Vietnam, Thailand and the Philippines – what it has in its favour are its huge size, a burgeoning middle class, a growing share of the world’s GDP, rising exports, stable foreign exchange reserves and robust digital infrastructure.