JPMorgan says India is its No. 1 market in Asia; investors are unlikely to return to China this year

India emerges as JPMorgan’s preferred market in Asia and globally due to its potential to benefit from the “China plus one” strategy. The country’s size and scale make it a favorable destination for companies looking to set up manufacturing facilities. Apple has opened its first retail stores in India and started iPhone production in the country. Maruti Suzuki, India’s largest automaker, plans to invest $4.2 billion in a new factory. Vietnamese electric auto maker VinFast also aims to establish a factory in India. Investor sentiment remains positive, with Indian stock markets hitting record highs. In contrast, China’s economy has slowed, and its stock markets have declined for three consecutive years.