Bernstein: AI may reduce India white-collar job openings and wages
AI is picking up fast in India, but that might mean fewer new white-collar jobs in the next three to four years.
Venugopal Garre, Managing Director and India Head of Research at Bernstein, points out that while AI boosts productivity, it could also push down wages and reduce job openings, so people might end up spending less.
The slowdown isn't just about IT; other professional sectors are likely to feel it too.
Bernstein keeps Nifty 26,000 target
Even with these worries, Bernstein is sticking to its Nifty target of 26,000 for 2026.
But they're watching out for risks like an unstable oil and West Asia backdrop and a heavy pipeline of fundraising in India could pressure overall market valuations.
Bernstein has shifted toward quick commerce and away from some traditional retail names in terms of sector perspective.
Plus, market gains are becoming more concentrated in a few stocks instead of being spread across the board.