India's recent stock market underperformance should not distract investors from the country's strong long-term track record, according to veteran investor Vikas Khemani. Speaking at the ET Alpha Wealth Summit during a panel discussion, Khemani said the current pessimism surrounding Indian equities is largely a reflection of recency bias rather than a deterioration in the country's structural investment case.
"India has delivered far better returns in the last 5, 10 or even 15 years within the emerging market space. It's just that in the last one-and-a-half years, we have underperformed. It is just recency bias regarding the mundane mood surrounding the Indian market," Khemani said.
