Investors may want to consider expanding their exposure to the world’s second-largest emerging market.
According to Kevin Carter, founder of EMQQ Global, the Indian technology sector is extremely attractive at the moment.
‘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 Edge” this week.
His company is behind the INQQ The India Internet ETF, which launched in 2022. The India Internet ETF is up nearly 21% so far this year, as of Friday’s close.
‘DoorDash of India’
One of Carter’s masterpieces is Zomatowhich he ‘de DoorDash of India.” Zomato shares are up 128% this year.
“One of the reasons why Zomato has done so well this year is because its rapid commercial activity has exceeded expectations,” Carter said. “It now looks like this is going to be the biggest business at Zomato.”
Carter noted that his optimism comes from a population that is just starting to get online.
“They’re actually getting their very first computer today,” he said, “you’re giving billions of people supercomputers in their pockets with Internet access.”