High US bond yield 'negatively impacts' India's appeal: Umang Papneja

Country's growth and market dynamics continue to make it an appealing investment destination, says CEO of Julius Baer India

Julius Baer is the largest foreign private wealth manager in India, handling assets worth more than $21 billion. Operating in the country since 2015 and having acquired Merrill Lynch’s India business, the Swiss firm has set a goal of becoming the country’s largest wealth manager. Umang Papneja, chief executive officer of Julius Baer India, said the country’s economic growth would underpin the demand for wealth managers. Short-term volatility creates opportunities to invest in Indian equities, Papneja said in an email interview with Samie Modak. Edited excerpts:

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India is one of the fastest growing economies