Investors may want to consider adding exposure to the world’s second-largest emerging market.
According to Kevin Carter, founder of EMQQ Global, India’s technology sector is currently very attractive.
“It’s the tip of the spear of growth. [in e-commerce] …Not just in emerging markets but across the globe,” Carter said this week on CNBC’s “ETF Edge.”
His firm is behind the INQQ India Internet ETF, which was launched in 2022. As of Friday’s close, the India Internet ETF is up about 21% since the beginning of the year.
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“Indian Door Dash”
One of Carter’s signature plays is Zomato, which he calls the “Doordash of India.” Zomato’s stock price is up 128% this year.
“One of the reasons Zomato has done so well this year is because its quick commerce business, Blanket, has outperformed expectations,” Carter said. “Now it looks like it’s going to be Zomato’s biggest business.”
Carter noted that his bullishness comes from people just starting to go online.
“Today they will have the first ever computer, giving billions of people Internet access to a supercomputer in their pocket,” he said. Ta.
