Every time China and India are pitted against each other, experts tend to lean towards China as an investment destination of choice. It may be so that, all things considered, China’s growth story somehow seems just a bit more credible than that of India.
The one man that stands alone in taking a slightly different view is the pied piper of emerging markets, Mark Mobius. The globetrotting executive chairman of Templeton Emerging Markets Group prefers, over the long term, India to China, according to a report in India’s leading business daily The Economic Times.
Speaking about India’s rapid growth and demographic dividend, Mobius goes so far as to say India could become a bigger consumer market than China.
He does say, though, that the current low valuation of the Chinese stocks makes them very attractive. And although he expresses doubt about China’s ability, relative to the U.S., to become the engine for global growth, he does concede China is likely to be the world’s largest economy by 2020.