Morgan Stanley’s managing director and chief India equity strategist, Ridham Desai, on Friday said that India’s long-term equity story remains strong even as the Indian market has underperformed global peers this year, citing deep structural improvements that have made the economy more resilient.

Speaking at a fireside chat titled ‘Why am I bullish on India?’ at the Business Standard BFSI Insight Summit in Mumbai, Desai said while he has been bullish on India since 2014, it doesn’t mean that its equity performance will provide returns every year.

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