Again, a fantastic article!! As an Indian, the thing that I agree with the most is keeping a close eye on government regulations and budgets, as it can definitely have the biggest impact on some financial sectors. Healthcare/Pharma will definitely boom too.
it’s also interesting to analyse it with one of your other theses: the CRO capacity. there’s been large investments into them across life sciences companies. could be interesting to see scientific experimentation and development as a service and a potential export capability for India. Also reduces the Indian pharmaceutical industry’s exposure to tariffs and other geopolitical risk. great work!
Exceptional write up on an Emerging Market I love to cover. Love how you highlighted Indian defense and power sectors - especially in terms of defense they have really strengthened relationships with major partners like US and Israel. Also, constant tension with Pakistan and China especially in the Kashmir area is very bullish for the industry and is always (unfortunately) a boiling point for a new war and is a critical region for clean water serving almost a billion people. One other thing notable to mention is Modi's popularity and commitment to development/investment. Thanks again this added to my knowledge on India Macro after I wrote up an Indian EV manufacturer couple months ago.
Honestly, while everyone keeps hyping India, Indonesia is the real sleeper hit for Asia's future.
Forget the massive systemic headaches and red tape elsewhere—Indonesia is bringing actual political stability, a unified culture, and a rock-solid grip on the critical tech metals that the green transition actually runs on. It’s sitting right in the sweet spot of global trade, playing it smart geopolitically, and quietly positioning itself as the most practical, future-proof play in the region.
If you're looking at where the real, stable growth in Asia is heading, this is where the smart money belongs.
I am surprised that you didn’t have global warming as a risk as long tail risk as South Asia is likely bear the brunt of the damage due to amount of the population living on the coasts and increasing number of days with high wet bulb temperatures that makes AC a requirement for life let alone work on a already strained electrical grid. It’s gotten worse every time I have visited over the last several decades.
Superb quality.. Great article
Thanks a lot Harissun! Anything you liked about it in particular?
The entire article was great...in depth and in with great detail...
The segment which interested me is when u dive into healthcare and pharmaceuticals...
I do believe India's health and Pharma industry will grow multifolds over the next decade
Awesome thank you!
Great write up!
We are still in the early-to-middle stages of what appears to be a multidecade commodity supercycle.
Agree with you on this!
Enjoyed this piece. Another reason to like FIH.U.TO and FFH.TO
Thanks a lot! And amazing business.
Great research but I am missing company specific price targets or at least some kind of ranking to see how convinced you're about these stocks.
Again, a fantastic article!! As an Indian, the thing that I agree with the most is keeping a close eye on government regulations and budgets, as it can definitely have the biggest impact on some financial sectors. Healthcare/Pharma will definitely boom too.
Thank you!
it’s also interesting to analyse it with one of your other theses: the CRO capacity. there’s been large investments into them across life sciences companies. could be interesting to see scientific experimentation and development as a service and a potential export capability for India. Also reduces the Indian pharmaceutical industry’s exposure to tariffs and other geopolitical risk. great work!
Thank you Mirna!
Exceptional write up on an Emerging Market I love to cover. Love how you highlighted Indian defense and power sectors - especially in terms of defense they have really strengthened relationships with major partners like US and Israel. Also, constant tension with Pakistan and China especially in the Kashmir area is very bullish for the industry and is always (unfortunately) a boiling point for a new war and is a critical region for clean water serving almost a billion people. One other thing notable to mention is Modi's popularity and commitment to development/investment. Thanks again this added to my knowledge on India Macro after I wrote up an Indian EV manufacturer couple months ago.
Thanks a lot!
Honestly, while everyone keeps hyping India, Indonesia is the real sleeper hit for Asia's future.
Forget the massive systemic headaches and red tape elsewhere—Indonesia is bringing actual political stability, a unified culture, and a rock-solid grip on the critical tech metals that the green transition actually runs on. It’s sitting right in the sweet spot of global trade, playing it smart geopolitically, and quietly positioning itself as the most practical, future-proof play in the region.
If you're looking at where the real, stable growth in Asia is heading, this is where the smart money belongs.
Could be one of our next piece!
I am surprised that you didn’t have global warming as a risk as long tail risk as South Asia is likely bear the brunt of the damage due to amount of the population living on the coasts and increasing number of days with high wet bulb temperatures that makes AC a requirement for life let alone work on a already strained electrical grid. It’s gotten worse every time I have visited over the last several decades.
That just means more demand for grid investment. Which is bullish for the companies that will provide and build it.
Always demand for infrastructure particular cold chain in the tropics.
Agree with you on this Harish!
Jeremie pls take a break man, you can’t post banger after banger like that 😂
Excellent article as always, much appreciated the information about a market that I never cover!
Ahahah thanks man!