FIIs may remain on sidelines for some time: Julius Baer's Ashish Gumashta

Our global desk currently maintains an 'overweight' rating on India with a Sensex target of 66,000

The markets enter the financial year 2022-23 (FY23) with a sense of caution, given geopolitical headwinds. ASHISH GUMASHTA, chief executive officer at Julius Baer India, tells Puneet Wadhwa in an interview that if the current geopolitical scenario changes relatively soon, and with expected growth of around 15 per cent in corporate earnings and some price/time correction in the markets over the past six months, he expects Indian equities to deliver a return of around 15 per cent in FY23. Edited excerpts:

Do you think Indian equities are a contrarian bet from a medium-term perspective, given the pessimism surrounding the geopolitical situation and rising oil