Davos 2017: Abraaj Group To Deploy More Funds In India
Abraaj Group’s Wedoot is big on India and gulf countries, says economies show strong demographics.
Abraaj Group, a leading investor in growth markets, is looking to deploy more funds in India to take advantage of opportunities being created by ongoing economic reforms.
“We are deploying more (funds) than we used to and this will continue,” Mustafa Abdel-Wadood, managing partner and global-head of private equity at the group, told BloombergQuint’s Menaka Doshi. Asian countries, especially India, have a lot of potential given the growth of middle class, consumption patterns and urbanisation, said Abdel-Wadood.
It (India) is a large market. We’re under-invested there, considering the size of the market, and we are looking to do more.Mustafa Abdel-Wadood, Managing Partner & Global-Head, Private Equity, Abraaj Group
Take On India’s Demonetisation
Speaking on the sidelines of the World Economic Forum at the ski resort town of Davos, Switzerland, Abdel-Wadood said demonetisation is a good move for India in the long term, despite the stumbles along the way.
Managing economic reforms is not easy. One can sit here and be critical but its is very different to sit in the hot seat, trying to implement change.Mustafa Abdel-Wadood, Managing Partner & Global-Head, Private Equity, Abraaj Group
Big On Emerging Markets
Asian and the Gulf countries have strong underlying growth and demographics despite facing headwinds over the last couple of years, said Abdel-Wadood. While the market talks about faster growth in the U.S. and Europe, it’s still half the pace at which emerging economies are growing, he said.
As a long-term trend, the emerging markets are representing an increasing share of the world economy and that’s a trend you should not be ignoring.Mustafa Abdel-Wadood, Managing Partner & Global-Head, Private Equity, Abraaj Group