GR Exclusive: Manufacturing Sector Outlook Robust, A Boon For India's $5 Trillion Economy Dream

In an interview with GoodReturns.In, Deepak Gagrani, Founder of Madhuban Finvest, on Interim Budget expectations said, Finance Minister Nirmala Sitharaman has already laid down the path in terms of tempering down expectations to have any full-fledged or large-scale announcements. Overall, he said, it is anticipated that this will be a very tempered budget.

Gargani added, "We would expect a bigger large-scale fedged announcement on budgets once when the new government is on board which would be later in the year so no major expectations for this interim budget right now.

On the 5 trillion economy trajectory, Gargani said, I think for a very large part of the last last two decades we've been more of a service-oriented economy but I think given what you know has been the trust of the government and the other regulatory bodies around to focus a lot more on manufacturing. I believe this is going to be the sector that should help Propel you know the overall economy and help us achieve the much coated 5 trillion dollar mark in a few years.

Gargani believes manufacturing should be one of the biggest drivers for the economy, and that should do well not just over the next few quarters but I think overall you know that should be the theme, while the service industry continues to consolidate. Hence, he believes that the real uptake will come from the manufacturing industry.

He believes some areas have helped the overall manufacturing sector in recent times and going forward. In fact manufacturing sector was the largest growing segment in the recently announced GDP estimates. The sector had the highest increase and Gargani thinks that part should continue around going forward as well. He added, "So, I'll place my bets on the manufacturing sector overall to help India you know move towards the 5 trillion economic.

On global investors, Gargani said, in recent times, at first it was Apple and now you know Elon Musk has shown so much interest by mulling for manufacturing of Tesla cars. Musk plans to manufacture Tesla cars in Gujarat, which the analyst said, is fantastic news.