“[Modi’s election] is the beginning of a new era, and I think for investors it’s going to mean moving in the direction of less red tape,” said Portfolio Manager and Director of International Research David Nadel in his May 19, 2014 interview with Maggie Lake on CNN. “It’s a much more pro-business administration—much more decisive,” he added.
In addition to talking about why he believes India’s new prime minister will push the country’s economy in a positive direction, David also expressed optimism about India’s middle-class demographic.
“India overall is just really a demographic-elite country. When you consider that the average age in the country is only 25 years old—that’s 10 years younger than the U.S.; nine years younger than China—it has the fastest growing middle class among the BRIC countries.”
David also mentioned a few names that he currently likes.
David Nadel has 21 years of investment industry experience, seven of which at Royce. He is portfolio manager of Royce International Smaller-Companies Fund, Royce European Smaller-Companies Fund (with Mark Rayner), and Royce International Premier Fund.