75th Independence Day Speech - A path maker for the Financial Markets
15th August 2022, the day when India celebrated its 75th Independence day which we have given the name ‘Azaadi ka Amrit Mahotsav’ with the Tricolour flourishing with pride on each and every street all over the country. Prime Minister Narendra Modi addressed the nation on India’s 75th Independence Day from Red Fort, Delhi. The Prime Minister explained the roadmap 'for the next 25 years which will be India’s ‘Amrit Kaal’ and also set the goals to become ‘Viksit Bharat’ in its 100th year of Independence.
The Prime Minister urged all the Indians to take 5 pledges to take the nation to new heights in the next 25 years. Below are those five pledges or resolutions:
1. Pledge to become a developed India
2. Erase all colonial mindset and be part of the collective growth
3. Take Pride in Country’s Legacy
4. Make Unity our core Strength
5. Make sure we first fulfil our duty towards the Nation
The words of the Prime Minister from the Red Fort were welcomed by all sections of our society. India Inc has welcomed the development strategy of ‘panch pran’, which lays down five resolutions to fulfil and ensure that the country stands as the Viksit Bharat in the couple of decades.
If a country has to succeed in achieving any of its goals, the vision and the mission have to be set very clearly with accompanied by proper planning and execution of the same and India is on the correct path to doing so in the next few years given successful various new initiatives of the government.
The Message of the Aatmanirbhar Bharat will be the growth driver in the Indian economic journey. Aatmanirbhar Bharat should be taken as a social agenda of the country rather than a government scheme. We should be self-reliable in the fields of organic farming, green jobs, and the space sector, where India could develop its strength from its own resources and skills.
India, as a country, is on the path to becoming self-reliant and is moving swiftly towards the path of achieving the target of becoming Viksit bharat. The recent pick up in economic activity in the tough times where the entire world is tackling rising inflation and recession fears indicates that our country can be a torch bearer for the whole world for the coming couple of decades which will show the world the path of development and growth.
PM Modi in his speech highlighted the importance of technology, research and innovation in the development of any country and raised the slogan of ‘Jai Jawan, Jai Kisan, Jai Vigyaan aur Jai Anusandhan’. India is expected to go ahead with the 5G spectrum services and also optical fibre work in the rural areas is running with a full flow indicating that the next few years will be led by research and innovation in India.
As far as the Indian Equity markets are concerned, we expect that the Indian stocks and markets are expected to remain in the sweet spot both with the domestic investors and the foreign investors portfolio. Given the shift in the mood of the foreign institutions in the last couple of months, we expect the market to hit fresh highs and corrections may be utilized to create a fresh portfolio for long-term investments.
Now the million-dollar question is where the money has to be invested, which sectors are expected to outperform and the timing of the investment. Below are the sectors which are expected to remain in the flavour in the coming quarters and years:
1. Banking
2. Autos
3. Auto Ancillary
4. Information technology
5. Consumer Discretionary
6. Cement & Paints
We expect markets to face short-term challenges in the coming months from the global as well as the domestic front but the long-term picture seems to be on the brighter side from the long-term investment point of view. Investing is a matter of thought for the long run and is not for a day or two. It is not easy to multiply wealth easily and needs a lot of effort and discipline. Whether you’re having a good day or a bad month, it’s important to stay level-headed. If you get fumble you’re likely to make mistakes and if you get too down on yourself you might start questioning yourself and your plan. It’s easy to let psychology take a hold of you, so remember what you’re doing and why you’re doing it.
