Damani says Jio Platforms will hit 550 million users, a milestone that could tilt the flow of foreign capital toward Indian equities. The comment comes as Wall Street lurches toward a 2026 election, prompting traders to reassess Indian exposure.
Jio’s user base has been expanding rapidly, and Damani says the company is poised to reach 550 million users by the end of 2026. The target dwarfs the 600 million viewers of the Kumbh Mela, illustrating the scale of the telecom sector.
Damani attributes the impending shift to US interest rate hikes, elevated valuations and a waning AI rally, which has largely bypassed India. He warns that a Trump victory could trigger protectionist tariffs, while a defeat might spark a constitutional crisis, unsettling for global markets.
While MSCI weightings for South Korea and Taiwan are expected to slip, India's sheer size could absorb a larger slice of the outflow. The country’s market cap remains the largest in Asia, offering a sturdy foundation for new investments.
Jio’s IPO is slated for Q3 2026, and investors are watching the valuation multiples closely. Damani says portfolio focus should remain on 5,000–20,000 crore market‑cap stocks, which he believes will deliver the best runway over the next decade.
Damani urges investors to stay invested, citing India's demographic dividend and potential rupee strength. He adds that even if markets dip, the underlying fundamentals provide a cushion, and the focus should be on long‑term value.