FMCG is passe- Indian economy has a new definition of defensive stocks !

I found this Blog very intersting !

Once upon a time FMCG stock used to be counted as defensive stock. Defensive stocks not only should defend our portfolio from down sides during a bear market but also should give a reasonable return over a period of time.

If we analyse the stock performance of last few years, FMCG stocks has taken us no where.
Pharma stocks once thought to be defensive. But Our pharma industry is China dependent for API and KSM. Also Pharma Industry as a whole is bogged down frequently by USFDA issues- Hopefully the PLI schemes of the Govt would create the eco-system gradually in days to come to really challenge China and become the pharmacy of the world.

IT industry once thought to be Defensive, but it is now seen that the IT industry is undergoing technological challenges/ transformation due to AI.

So , what is defensive now ? This article explains well… it lists 8 stocks which we should keep under our watch list.

PS: I am able to access the full article from my android phone though I have not subscribed to its prime membership.But when I was trying to access the link in valuepickr forum , it is asking for subscription.

Please confirm if you are able to open the link and access to the article