Given that India’s equity market has historically traded at premium valuation multiples versus the broader emerging market (EM) universe, it’s important to address the question: “Is India expensive?” Our answer is, in short, no. We believe that one should balance valuation multiples with a company’s prospects for both earnings growth and reinvestment rates. Thus, when we look at India’s valuations, the country’s elevated growth and return profiles appear to justify the premium multiple. View the full report here.

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