Nilesh Shah Explains Why He’s Cautious: 4 Big Risks Facing India Now

In the Business Today Market Masters series, Nilesh Shah explains why he is taking a more cautious stance on markets. While remaining confident about India’s long-term growth story, he highlights four key risks—safety of Indians in the Middle East, remittance flows, energy availability, and rising crude oil prices. He also points out existing vulnerabilities, including rupee pressure, limited scope for rate cuts, and continued FII outflows. Calling the current phase a “Rahu Kaal,” Shah urges investors to stay realistic, not emotional. His advice: focus on bottom-up stock picking with reasonable valuations and resilient business models during uncertain times.