Name: Indias stocks emerging as tariff haven
Uploaded: 2025-04-22T03:26:14.369Z
Duration: 2 min 44 s
Description: Shweta Rajani, Associate Director of Anand Rathi Wealth Ltd, said Indian stocks are emerging as a bright spot amid global market turmoil. Despite this, Indian equities could still face potential headwinds from the impact of tariffs on its pharmaceutical sector.

Shweta Rajani, Associate Director of Anand Rathi Wealth Ltd, said Indian stocks are emerging as a bright spot amid global market turmoil. Despite this, Indian equities could still face potential headwinds from the impact of tariffs on its pharmaceutical sector.

New Delhi

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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India's stock market is emerging as a stable option amid global economic uncertainty, according to Shweta Rajani, Associate Director at Anand Rathi Wealth Ltd. Despite the worldwide turmoil, Indian equities show positive signs with strong fundamental performance and positive earnings reports. The banking and financial services sectors, in particular, have demonstrated significant growth. 

Foreign investment in Indian equities has also seen positive trends with foreign investors turning into net buyers. This optimism is expected to persist in the medium term. However, potential tariffs, as hinted by President Trump, could impact certain sectors within the Indian market. Rajani notes that pharmaceuticals and possibly iron-related sectors might face challenges due to these tariffs.

While there are risks, Rajani points out that domestic-oriented sectors are likely to benefit from expected consumption growth. Banking and financial services, in particular, are anticipated to remain resilient, and there may be a rise in private capital expenditures. The optimistic outlook for the market stands, with expectations of potential earnings growth over the coming financial periods.



India's stocks emerging as 'tariff haven'

Joining us now is Shweta Rajani, Head of Mutual Funds at Anand Rathi Wealth. Shweta, really good to have you with us. Do you buy into this optimism about the Indian markets? Hello, good morning. Absolutely. You know, if you see this clear cut, a very good time to be in the Indian market and the optimism that you're seeing right now is clearly because India is likely to be fairly resilient from this entire tariff war situation and the global uncertainty which is there. The Indian outlook itself, the fundamentals are going pretty strong at this point of time and that's what we've seen in the earnings season as well. So far, it's almost 30% of the index which has declared results, but within that, banking and financial services have been most of the companies that have declared results there and it's all been double digit growth. So I think that's bringing back, we're also seeing, you know, if I have to say just a green shoot, but the last two, three days, FI has been net buyers in Indian equities. So yeah, fundamentals being strong, sentiments turning positive, earnings coming in, you know, very much positive with this all leading to this optimism that you are seeing. And in my view, this is likely to continue for the medium term. President Trump though has also threatened potential tariffs on the pharmaceutical sector. Of course, we know that drug makers are big across the Indian market. Is this a concern in perhaps some sectors of the Indian market that could get hit? Absolutely. There would be certain sectors where, you know, there could be a tariff hit and therefore there could be, you know, certain issues coming in there, earnings, you know, taking a drag in those sectors, be it, you know, pharma is, you said one, IT not directly hit, but then because of, you know, lower cost, it could have an ancillary downside impact to it. Auto, auto ancillaries could be another one. So yes, there would be a few sectors which would be negatively impacted, but a lot of your domestic oriented sectors, you know, could also benefit because we are expecting consumption to go up. Banking and financial services would be another one to be fairly resilient. Private capex is supposed to, you know, there is an expectation that we could see some pickup in that space. So sectors related to that call it, you know, building materials, cement, all of that would be on the positive side. So if you see there would be a mixed bag, but when I'm looking at Nifty, the weightage of the domestic oriented sectors would be far more. And therefore from an overall market perspective, we could see, you know, markets to be on the positive side and earnings growth of, you know, maybe a 10, 12% over the financial year 2026 of blue slide possibility.

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