Rajeev Malik
CLSA
First-place appearances: 0

Total appearances: 3

Analyst debut: 2011

Rajeev Malik of CLSA advances from runner-up to third place. The researcher is applauded for “not drinking the Kool-Aid from government officials and for forming his own independent opinions irrespective of [their] guidance,” in the words of one backer. India’s real gross domestic product advanced by 5 percent in the fiscal year ended March 31, its weakest annual expansion since 2002, and posted a year-over-year gain of 4.4 percent for the following first fiscal quarter. Malik, who works out of Singapore, forecasts that the nation’s economic turnaround will be “slow, uneven and protracted,” with a return to sustained growth of 7 to 8 percent unlikely for a few years. The country requires “supply-side reforms, which can bring about a sustained decline in retail inflation,” he contends, “thereby allowing the Reserve Bank of India to ease interest rates.” Even as the structural story has lost some of its luster, he is advising clients that only an effective government can significantly unlock the economy’s potential, so next May’s national elections loom large. “A meaningful shot in the arm will emerge only after the general elections, and that too will be a function of the nature and stability of the incoming coalition government,” says Malik, who adds that “any government which undertakes reforms will be positive for growth.” — Carolyn Koo