Amit Joshi sees AI infrastructure driving India's next wealth wave
Amit Joshi, chief investment officer at Bajaj General Insurance, believes India's next big wave of wealth will come from investing in AI infrastructure, not just software.
He highlights sectors such as data centers, power transmission, manufacturing, and energy transition as rising stars in the global AI scene.
RBI holds rates at 5.25%
Joshi points out that these underinvested sectors are getting a boost from government spending and offer strong long-term potential.
Meanwhile, the Reserve Bank of India kept rates steady at 5.25%, lowered inflation forecasts to 5%, and bumped up GDP growth projections to 6.7%, signaling solid economic footing even with global uncertainty.
For investors: Nifty 50 has slipped 6% this year, while midcaps and small caps are up; Joshi suggests balancing portfolios between large and smaller companies.
He also flags risks like high oil prices and geopolitical tensions that could slow momentum.