亚洲最富有的银行家乌代·科塔克表示，如果全球人工智能投资热潮消退，印度可能成为资金流入的受益者，因为投资者会寻找估值更具吸引力的市场。
India could emerge as a beneficiary of foreign flows, if the global artificial intelligence investment boom unwinds, as investors seek markets offering more attractive valuations, Uday Kotak, Asia’s richest banker, said.
“全球企业为资助其人工智能愿景而使用的杠杆，在许多情况下也导致了严重的高估，”这位亿万富翁、科塔克马恒达银行创始人在印度排灯节前夕的视频讲话中表示。“而印度在打造自身人工智能能力的道路上，如果出现反向资金流，也将从中受益。”印度股市已从今年10月初的低点反弹近10%，恰逢全球人工智能相关股票遭到抛售。
“The kind of leverage which global companies are taking to fund their AI aspiration is also leading to significant overvaluation in many cases,” the billionaire founder of Kotak Mahindra Bank Ltd., said in a virtual address ahead of India’s Diwali festival. “And India, as it works down the path of building its own AI capability, will also benefit for reverse flow, should it happen.”Indian equities have rebounded nearly 10% from this year’s lows in early October, coinciding with a selloff in global AI-linked stocks.
同期，科技股权重较高的亚洲市场下跌逾7%，凸显出印度股市的相对韧性。阅读：全球基金对印度股票失去信心，部分基金将配置降至零尽管近期出现反弹，但印度本地股票仍是该地区表现最差的股票之一。缺乏有意义的AI投资标的、估值昂贵以及能源价格飙升，已导致全球投资者在2026年从印度市场撤出创纪录的290亿美元。
Tech-heavy Asian markets have fallen more than 7% over the same period, highlighting India’s relative resilience. Read: Global Funds Sour on India Stocks as Some Cut Allocation to Zero Despite the recent reversal, local stocks are still among the worst performing in the region. The lack of meaningful AI plays, expensive valuations and surging energy prices have seen global investors pull out a record $29 billion from Indian markets in 2026.
净资产达165亿美元的科塔克表示，尽管存在地缘政治不确定性、全球市场动荡和大量外资流出，印度股市依然保持坚挺，国内投资者持续表现出信心。
Kotak, whose net worth stands at $16.5 billion, said Indian equities have held up despite geopolitical uncertainties, volatile global markets and significant foreign investor outflows, with domestic investors continuing to show confidence.
他表示，市场回调后，印度的相对估值水平也有所改善，与6至12个月前相比，股票相对于其他市场不再那么昂贵。他补充说，印度较高的增长潜力仍是一个关键优势。
India’s relative valuation position has also improved following the market correction, making stocks less expensive compared with other markets than they were six to 12 months ago, he said. The country’s higher growth potential remains a key advantage, he added.
基准Nifty 50指数的预期12个月远期市盈率为17.5倍，低于年初的21倍。与地区同行相比，该指数仍有相当大的溢价，而MSCI亚太指数的市盈率约为10倍。
The benchmark Nifty 50 Index trades at 17.5 times estimated 12-month forward earnings, down from 21 times at the start of the year. It still commands a sizable premium to regional peers, with the MSCI Asia Pacific Index trading at about 10 times.
对于投资者而言，科塔克主张采取中长期策略，聚焦优质企业与风险管理，而非做出短期投资决策。
For investors, Kotak advocated a medium-term approach focused on quality companies and risk management rather than short-term investment decisions.