Growth slowdown can be a bigger risk than liquidity: BNP Paribas' Tikekar

'The company's structural drivers need to be in place for investor sentiment to stay bullish', said Tikekar

It will be unfair to give credit for India’s recent outperformance only to structural issues in other countries, says Ashutosh Tikekar, head of global markets, India at BNP Paribas. In an interview with Samie Modak, Tikekar says the two bigger risks for the market is recovery stalling and the cost of funds rising. Edited excerpts:

What explains India’s sharp outperformance seen in 2021, especially since August?

We think that improving on-the-ground data points, supportive government policies, a proactive central bank, higher vaccination rates, and structural issues in other emerging countries are behind the outperformance of the Indian markets. India has seen a