ET Now: You mean the new RBI Governor, but what is your outlook for the Indian equities? We are treading close to lifetime highs, but the participation has been very low. What do you expect from Indian equities? Where do you see them moving in the near term?
Marc Faber: It
is true that the market in local currency is at the relatively elevated
level, but not in the US dollar terms. In the US dollar terms, we are
still down something like 40% from the peak a few years ago. So I always
argue, in India what you get is either a strong currency and a weak
stock market or a weak currency and the strong stock market because they
adjust to each other. My feeling is that the market may still go up
somewhat. I think compared to, say, Chinese companies, Indian companies
are by and large well managed. - in ET NOW Click here to watch the full interview >>>>
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.