MARK MOBIUS, veteran investor and the founder of Mobius Capital Partners LLP, believes that India needs to have a freer foreign exchange market in order to attract overseas funds. If the Indian government opens up the market freely, they would have an incredible flow coming in, he says.
Speaking to GEORGE MATHEW and HITESH VYAS on the sidelines of Morningstar Investment Conference, Mobius, who was earlier Executive Chairman of Templeton Emerging Markets Group, says his investment strategy aims at return on capital and earnings growth, and going by these two metrics, India is very cheap in terms of valuation. India is the place for long-term growth, says Mobius, whose emerging markets fund has a 20 per cent allocation to India. Edited excerpts:
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