“Doing business in India is like doing business across 29 countries. Each State has its own rules. If that changes, there’ll be an incredible impact”
If India can push GST (Goods and Services Tax) through and open the doors wider to foreign portfolio investors, there could be a flood of capital flowing in, said J Mark Mobius, Executive Chairman of the Templeton Emerging Markets group.
People often ask him — How much money do you want to put into India? He tells them — Today the US stock market is about $12 trillion in market capitalization. The Indian market is just $2 trillion.
But with the Indian population, the Indian market cap should be $20 trillion. Foreign investments should be a hundred times more.