India's most underrated investment asset

Some time ago, someone asked me what I considered the most underrated investment asset in India. It's the sort of question that could invite a dozen different answers, depending on your perspective. Depending on your perspective, you argue for practically anything. However, suppose one steps back and takes a wide-angle view of the entire savings landscape in India. In that case, there's only one possible answer: equity, and by extension, equity-backed mutual funds. This might sound counterintuitive, even illogical. After all, equity markets generate considerable noise in investment circles. The pink papers and the business channels are filled with stock analyses, market predictions, and trading strategies. Social media is full of tips, recommendations, and market commentary, good or bad. All in all, the equity markets seem anything but underrated or ignored. Suggested read: Panic and sudden meltdowns But here's the point that readers of this column probably don’t notice: this noise exists primarily within investment circles. You and I are immersed in this noise, but most Indians neve