Expensive India loses out on Barclays' must-have list

The Indian market has been a tad tizzy over the past few months on the back of discomforting inflation and growth numbers. As of result, institutional investors have started looking at India as the least preferred market in the Asian region.

So what is causing so much consternation? There are a lot of near-term pressures in the market here, the biggest being inflation, says Barclays Wealth's Asia strategist Manpreet Gill. "Valuations here are currently at lower half of the historical levels," according to him. However, for investors with a fairly long-term horizon, India continues to be a safe bet. The biggest opportunities lie in the Chinese equity markets, Gill adds. Below is a verbatim transcript of Manpreet Gill's interview with CNBC-TV18's Mitali Mukherjee. Also watch the accompanying video. Q: We are hearing a lot from institutional investors about how India is becoming the least preferred market in the Asian region. What is causing so much consternation? A: Often the period when you have the gloomiest outlook can sometimes end up being the best period to buy. We haven