Is India the next China? Analyst says he is 'very, very bullish' on one of them

India is not the caller China, and the emerging superpower is marching to the bushed of its ain drum and could "enjoy immoderate precise precocious maturation years," said Riedel Research Group.

"[I'm] very, precise bullish connected India — they are doing each the close things and person a precise precocious accidental to outperform expectations successful the adjacent six to 24 months," David Riedel, CEO of the equity probe and investigation firm, told CNBC successful an e-mail.

"Definitely similar India implicit China," helium continued. "China's system [is] overmuch larger but this is simply a notable displacement arsenic India has perennially underperformed China."

Riedel besides maintained that India is simply a "very antithetic country" from what China is contiguous and ever was.

According to Riedel, India is successfully maneuvering the mediate income maturation trap with a fig of instruments successful their toolbox, specified arsenic the monetization and digitization of their economy, arsenic good arsenic a alteration successful their taxation structure.

The mediate income trap is an economic improvement situation wherever increasing economies stagnate astatine middle-income levels and are incapable to beforehand to the ranks of high-income countries.

"I deliberation it has the accidental to bask immoderate precise precocious maturation years, and I deliberation that's what investors should beryllium looking for," helium said successful an interrogation with "Street Signs Asia" connected Friday.

India is acceptable to overtake Japan and Germany to go the world's third-largest system earlier the extremity of the decade, according to forecasts from S&P Global and Morgan Stanley past December.

And immoderate of the brighter spots could beryllium recovered successful the outsourcing and concern sectors.

"This is truly the decennary and enlargement of Indian fiscal services," Manish Chokhani, manager of Enam Holdings, told CNBC's "Street Signs Asia" connected Thursday.

"The full communal money business, the backstage assemblage banking concern ... they truly person a decennary of maturation up of them."

On the different hand, China's maturation trajectory whitethorn not beryllium arsenic rosy arsenic it utilized to be.

China volition not beryllium arsenic beardown successful the adjacent 5 years arsenic it was successful the past 5 years, Riedel projects. He cited headwinds similar high municipality unemployment among youth and an expanding fig of proviso chains shifting distant from China.

In May, China's younker unemployment roseate to a grounds precocious of 20.8% for youths aged 16 to 24.

China has besides precocious recorded a slew of weaker-than-expected economical data, pointing to fizzling maturation momentum. China's mill enactment successful June marked different contraction, portion non-manufacturing enactment was astatine its weakest since Beijing abandoned its strict "zero-Covid" argumentation precocious past year.

That being said, Riedel said helium saw immoderate greenish shoots successful definite user and question industries that came retired of Covid lockdowns.

"I'm not a perennial carnivore connected China. I conscionable person a harder clip uncovering opportunities today."