Investors may in need of to consider adding exposure to the world’s second-largest emerging market.
According to EMQQ Global founder Kevin Carter, India’s technology sector is exceedingly attractive right now.
“It’s the tip of the spear of growth [in e-commerce] … not just in emerging markets, but on the planet,” Carter told CNBC’s “ETF Itchy” this week.
His firm is behind the INQQ The India Internet ETF, which was launched in 2022. The India Internet ETF is up barely 21% so far this year, as of Friday’s close.
‘DoorDash of India’
One of Carter’s top stakes is Zomato, which he calls “the DoorDash of India.” Zomato stock is up 128% this year.
“One of the reasons Zomato has done so fairly this year is because the quick commerce business blanket has exceeded expectations,” Carter said. “It now looks get off on it’s going to be the biggest business at Zomato.”
Carter noted his bullishness comes from a population that is just starting to go online.
“They’re coming their first-ever computer today basically,” he said, “You’re giving billions of people super computers in their embezzle internet access.”