India is on the brink of a multi-year growth cycle driven by capital expenditure, credit growth, consumption, and corporate profitability, according to Devang Mehta, Director of Equity Advisory at Spark Capital Private Wealth Management. Mehta also stated that sectors related to credit growth, financials, and capital expenditure are likely to lead the next phase of the market rally. Rising oil prices, a depreciating rupee, and the negative impact of the US market are concerns for the Indian economy.
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