Mark Mobius sees Modi returning to power; bullish for infrastructure, energy sectors

Stock investor Ace Mark Mobius expressed optimism about the upcoming election results in India, predicting Narendra Modi’s return to power for a third term and continuation of his policies.

“The big question mark is whether he will be able to win enough seats to change the constitution. “I doubt it will happen at this stage, but it could happen, and if it does, we will see another big push in India to make big changes especially in the infrastructure space,” Mobius told CNBC International.

Mobius stressed its interest in Indian infrastructure stocks, expecting a strong push in the sector. “Infrastructure will continue to develop strongly.”

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Additionally, Mobius commented on the “B” rating assigned by S&P for India, considering it very low and advocating an increase in the rating, especially in the future.

“You must have a high rating.” According to Mobius, S&P is looking backwards and the current rating is only a safety measure. “Looking ahead, S&P’s India rating should be higher,” Mobius said.

Mobius also emphasized its preference for the Indian power sector in India, pointing to the growing global demand for electricity. “One of the things that people don’t really realize is the incredible demand for energy, not just in India but around the world.”

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He stressed the need for India to double its generation capacity to meet growing consumer demands, anticipating significant growth in the power sector.

“All consumers need to power their mobile phones, chips need more energy. Consumers are using more, and this requires more and more power. Energy, in my opinion, will be a big growth area,” Mobius said.

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