Citi sees $10-12 billion IPO pipeline in 3 quarters, says Amol Gupte

Citi's Amol Gupte says India's reform push and strong domestic demand will help navigate US tariff shocks; sees GST cuts boosting growth, FDI pipeline intact

Amol Gupte, Asia South head at Citi, believes India’s reform drive will help navigate the uncertainty posed by US tariffs that the bank expects to settle at 25 per cent. In an interview with Manojit Saha and Subrata Panda in Mumbai, he noted that the FII exodus was a nuanced phenomenon as they continued to bet big in the primary market that Citi expects to boom from now to Q1 2026-27. Edited excerpts:

 

How do you see the GST reforms announced recently?

 

There is a famous saying — never waste a good crisis. What we are seeing in India right