Too early for Israel-Hamas conflict to play out in global equity markets: KPMG India CEO

KPMG India CEO Yezdi Nagporewalla has said it is too early for the Israel-Hamas conflict to play out fully in the global and domestic equity market. It may be noted that both domestic and the global equity markets have not shown any knee jerk reaction even as the Israel-Hamas conflict enters the second week. On the domestic economy, Yezdi maintains that India has demonstrated its capability.      

Speaking at the KPMG flagship event EnRICH 2023, Yezdi says it is early days. "One has to realise that one of the counterparties hasn’t fully reacted. Rest of the world is trying to see how to contain that. Depending on that reaction one would see how it pans out in the coming days."

On the Indian growth, Yezdi tells Fortune India, "The potential is demonstrated by us. For the first time, people have taken India economically and capability wise seriously. People now know that we are capable and we mean business." 

"Timing wise also it is an opportune moment for India as we have our own captive market. There are geo-political issues which spring up like the war right now and the Russia - Ukriane  war, which no one can predict as such but away from that India has proved that it is capable. And it has got the right timing especially given the global trends," Yezdi says. 

On the $5 trillion economy plan, Yezdi says the numbers speak for themselves. On private investments, he says it may not be up to the extent people would like it to be and also as a proportion of public versus private, more public spend is coming up but the potential is not lost. "There is an evolving change in the mix of the traditional and modern areas of investments. But traditional manufacturing also is in focus with schemes like PLI," Yezdi adds.