We see some market shocks next year: Nomura's Robert Subbaraman

While Nomura is positive on the prospects of emerging markets (EMs) and India next year, it sees some turbulence as well, says Subbaraman

In an interview with Samie Modak, Robert Subbaraman, managing director and head of emerging market economics at the brokerage, says the market has got so used to the US Federal Reserve’s (Fed’s) gradualism and predictability that it will have to endure some shocks. Edited excerpts:

What’s the growth outlook for India next year?

This year, growth has surprised on the downside. Our view is that growth will surprise on the upside next year. We are forecasting a growth of 7.8 per cent in the first half of 2018. On the equity side, we are expecting pretty decent growth next year