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By Jason Stipp | 05-04-2010 04:12 PM

India's Emerging Investing Landscape

Surefin's Amitabh Singhi on the structural investing opportunities India, current valuations today, and rooting out the underfollowed.

Jason Stipp: I'm Jason Stipp for Morningstar. We're reporting from the Value Investing Conference in Pasadena. I'm here with Amitabh Singhi. He's with Surefin and has talked a little bit today about opportunities to invest in India and also some of the perils and pitfalls. Thank so much for joining me.

Amitabh Singhi: Thanks. It's good to be here.

Stipp: So, first question for you, you mentioned some structural things in your speech that create opportunities in India. Can you just elaborate, briefly--what are some of the things about the Indian market that create, structurally, an opportunity for a value investor?

Singhi: Sure. One of the things that people don't know is that India has the second largest number of listed companies in the world. There are lots of small companies that probably should not have been listed, that are listed. That gives an opportunity for people to find things when others aren't looking there.

The second thing, really, is there are a lot of niche businesses available in India because it's a difficult land to traverse nationally. So you can have a lot of niche local companies that have been doing great work for 15, 20, 30 years that people haven't discovered.

Stipp: You also mentioned the volatility of the market. Now, I think this is something that a lot of investors thing of as a risk. But, how does this play into the opportunity set that becomes available for you?

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