The Indian economy seems to be picking up as the COVID-19 cases are coming down, said Mark Matthews of Bank Julius Baer & Co on Tuesday. However, India has some catch-up to do.

"India on dollar basis was up well less than 10 percent last year and the year before and the S&P was up about 30 percent in 2019 and 15 percent in 2020. So India has some catch-up to do," said Matthews in an interview with CNBC-TV18.

“I like the look of India. The COVID cases are down and the economy seems to be picking up," he said.

On the US front, Matthews said, “I do not think the Fed is going to raise rates for at least 3 years. So imagine rock-bottom yields and interest rates for 3 more years. I think stock prices can remain supported in that kind of environment at high valuations which they have historically.”

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(Edited by : Niral Sharma)