We had a memorable investor trip to India in February. Our group of 21 spent eleven days traveling to New Delhi, Bangalore and Mumbai, with a two day extension trip to Varanasi. We attended presentations by Indus managers, visited portfolio companies, heard talks from a handful of dignitaries, and experienced India’s cultural and culinary highlights.
Business highlights included:
- Economic and investment briefings by all four Indus managers in Bangalore and Mumbai. The main takeaways were that their portfolio companies are growing earnings at the fastest pace on record, and that the Indian market appears to be poised for a multi-year rally, powered by rapid economic growth, improved utilization rates, and a strong rebound in profits.
- Meetings with the management teams of portfolio companies Page Industries (underwear and leisure wear), V-Mart Retail (value fashion retailer), Shemaroo Entertainment (Bollywood film and music licensing) and Urban Ladder (online furniture website). We were particularly struck by the passion and expertise of the management teams. Their companies have attained highly profitable, leading market positions, but they were focused on doing even better in the future. All four companies have huge runways for growth.
Cultural highlights included:
- Experiencing the sights, sounds, smells and tastes of India. There is no country in the world like it.
- Contrasting the ancient splendor of the Taj Mahal with the new office towers in Mumbai and business parks in Bangalore.
- Visiting Varanasi on the Ganges river to see the spiritual side of India. Varanasi is the oldest continuously inhabited city in the world, and holiest Hindu city, and the birthplace of Buddhism.
We undertake these trips to provide investors with the chance to experience firsthand what is happening in Asia. Contrary to what is often depicted in the press, India and the rest of emerging Asia are booming. We encourage potential investors to join us on future trips.