Apax Partners remains bullish on India, focusing on consumer and technology investments despite current economic challenges. Co-CEO Mitch Truwit said, “I see opportunity. We're longer-term investors.” The firm has invested in Indian businesses for 20 years, generating $10 billion in value, and plans to keep backing sectors that show strong growth.
Global private equity firm Apax Partners sees investment opportunities in India's consumer and technology sectors despite slower economic growth and high valuations.
Mitch Truwit, Co-CEO of Apax Partners, said slower GDP growth, inflation and taxation concerns have made India less attractive to some investors in the near term. However, he remains optimistic about the country's long-term prospects.
“I see opportunity. We're longer-term investors,” Truwit said, adding that India's growth potential remains difficult to ignore.
The comments come at a time when foreign portfolio investors have withdrawn significant amounts of money from Indian equities, raising concerns about the country's appeal to global capital.
Apax Partners has invested in Indian businesses for 20 years and said it has generated $10 billion in value for its investors in the country.
Harjot Dhaliwal, Partner and Head of India said, “It's been a very successful market for us. We want to continue to invest behind the sectors we know well. Themes that we find interesting continue to be around consumer, where the Indian consumer is kind of trading up. Around technology, there will be businesses that will help that will use AI and really help enterprises get there.”
She added said rising consumer aspirations are creating opportunities for brands targeting customers who are willing to spend more on products that offer better quality and meet changing preferences. Health and wellness, clean-label products and demand for food with fewer preservatives are among the trends the firm is watching.
These shifts could create opportunities for businesses that can build strong brands and respond to changing consumption patterns. For investors, companies with established customer bases, differentiated products and the ability to expand their reach could be worth watching.
Technology is another important area for the firm, particularly businesses that help traditional enterprises adopt new tools, improve processes and develop products for customers.
The firm is also interested in business services, where increasing formalisation across different parts of the Indian economy could support growth.
Apax Partners sees artificial intelligence as both a challenge and an opportunity for businesses. While the technology could disrupt existing business models, companies that use it effectively may be able to improve productivity and create new revenue opportunities.
For Indian IT services companies, the opportunity lies in helping enterprises integrate AI into their existing systems and make their data infrastructure ready for wider adoption.
Many organisations still lack the technology infrastructure and skilled talent required to deploy AI at scale. This creates room for specialised service providers that can help businesses move from experimentation to practical implementation.