ETMarkets Smart Talk | AI and semiconductors remain the best global investment themes today: Niteen Dongare

Niteen Dongare of Anand Rathi International Ventures identifies AI and semiconductors as the most durable global investment themes, reflecting sustained institutional conviction in technology-driven structural growth. This positioning acknowledges that secular demand drivers—compute scaling, data center buildouts, and AI infrastructure—remain largely intact despite near-term macro volatility.

The recommendation to allocate 20-30% of portfolios to global markets signals a view that geographic diversification amplifies risk-adjusted returns relative to concentrated India-focused exposure. ETFs and GIFT City vehicles provide retail and institutional investors mechanized entry points to semiconductor supply chains and AI adoption beneficiaries, reducing single-stock idiosyncratic risk while maintaining sector thematic exposure.

Semiconductor equities like NVDA and MU remain proxy instruments for this thesis, though the commentary avoids stock-specific valuation claims. The framing reflects a longer-duration outlook that deprioritizes near-term earnings volatility in favor of multi-year capacity expansion and margin normalization narratives.

Sector implication: Technology maintains cyclical momentum alongside defensive qualities in an uncertain macro environment. Indirect exposure through diversified global ETFs may outperform concentrated emerging-market or single-geography bets as capital allocation flows follow structural AI and semiconductor tailwinds.