India Can Surprise On The Upside In Deep Tech, Says This Market Veteran

India can positively surprise on the deep tech front aided by supportive policies, according to Navneet Munot, managing director and chief executive officer of HDFC Asset Management Co.

"The next era could see a confluence of factors, themes we have seen working this year," Munot told NDTV Profit in an exclusive interview.

“I believe the future lies in deep tech, influenced by innovations we have observed recently — such as 3D-printed satellites, companies focused on waste management, and firms investing in creating human organs,” he explained.

On 2025 outlook, Munot expressed optimism, noting that humankind has overcome significant challenges in history and emerged stronger each time. "2025 will not be very different," he said.

“Globally, we are facing numerous challenges, including climate change, technological disruption, and geopolitical tensions,” he said. However, he emphasised that India is already demonstrating transformative progress in sectors like fintech and finance.

“The balance sheet health of both the public and private sectors looks robust. While India may face some challenges on the profit and loss side, the overall balance sheets remain strong,” Munot said.

India is in a far better situation on the public debt side, even against developed peers, said Munot. He also lauded the country for being more politically and socially stable, in comparison to rest of the world.

Commenting on the new US administration, Munot said, "(Donald) Trump's cabinet is a republic of billionaires. Their decisions and the evolving geopolitical scenarios might trigger a new global investment cycle."

Munot emphasised that these global dynamics would push nations toward greater domestic investments to establish reliable supply chains.

He further observed that the rise of artificial intelligence technology would drive growth in data centres and the power sector. Additionally, he predicted a surge in the defence sector as countries ramp up investments in strengthening their own defence capabilities.