In the making for over a decade, India’s only international financial centre, GIFT City, now seems to be taking shape with focussed policies and regulatory clarity. There’s growing interest from investors and more confidence on the ground but a few more policy tweaks may be needed
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"I would remember 2023 as a year where there was anxiety around significantly high interest rates, anxiety around the second order impact that these interest rates would have on financial institutions and banks, and expectations around inflation coming down," says Ajay Tyagi, Head of Equities, UTI Mutual Fund.
In banking and financial services, power utilities, metals and mining etc, companies from the private sector could provide better growth and profitability outcomes versus the PSU sector over the medium to long term, says Ajay Tyagi of UTI AMC.