In an interview with Kshitij Anand of Etmarkets, Bhattacharya said: “The current environment of tariffs and global economic slowdowns will favor sectors such as healthcare delivery and domestic consumption,” Experpts:
Q) Thank you for taking the time. Well, we started with a volatile note with tariff uncertainty, either from April or the new fiscal year. What do you think about the FY26 market?
a) We believe the stock market will be seen after the recovery after the crash slump, driven by Trump’s tariff war. Despite geopolitical uncertainty, we believe that the Indian economy is well placed to grow internally.
Q) What are your views on US tariffs introduced by the Donald Trump government? What impact will it have on the economy and the Indian market?
a) The tariffs introduced by the Trump administration are likely to cause some global trade uncertainty. In India, we expect that there will be some impact on exporters due to two main factors.
a) Currency volatility that can result from escalating trade tensions, andb) The pressure on export volume and realization due to changes in competitiveness to other regions. The direct impact on India may be limited compared to countries that are deeperly integrated with US trade flows, but the wider ripple effects on global sentiment and supply chains could weigh both in the economy and market.
Q) The global slowdown chat will become even greater with new tariff measures from the US. How will that affect economic growth in India and around the world?
a) There is no one insulated in this market, so a global slowdown will affect all economies, including India.
Q) Do you think India Inc.’s revenue could be hit by tariff measures?
a) Yes, exporters are particularly vulnerable to downgrades in revenue due to tariff measures. Sectors that may be affected include IT services, automotive component manufacturers, and companies in the defense and electrical equipment space.
These industries rely heavily on overseas markets, and tariff-related headwinds can directly affect toplines and margins.
Q) In the midst of tariffs and a global economic slowdown, which sector should we look for to deploy fresh money?
a) The current environment of tariffs and the global economic slowdown prefer sectors such as healthcare delivery and domestic consumption.
These are primarily India-centric, relatively isolated from global headwinds and are not sensitive to currency fluctuations, making them a resilient investment theme at this stage.
Q) How do HNI and high-value investors allocate money? Are they diversifying globally or are they buying treasures to protect their portfolios?
a) It is difficult to make a general statement about this. However, Savvier investors are trying to develop based on individual bottom-up stock picking.
Q) How do I play small and midcaps on FY26?
a) I’m a small, overweight, and should be posting midcaps these days in the fall. It has become clear that the control of large Indian companies is being challenged for innovation by small and medium-sized businesses.
(Disclaimer: The recommendations, suggestions, opinions and opinions given by experts are unique. (These do not represent views of the economic era)
