The markets have been on a downward slide and the past week saw the Indian benchmarks, Nifty50 and BSE Sensex, end in the red on every trading day. Therefore, the question arises naturally if this is a good time to buy the dip.

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According to Macquarie's Sandeep Bhatia, yes, if the Nifty falls below 16,800. He reckons that India is an attractive investment destination for global investors, with its promising economic growth and abundance of potential opportunities.

In an interview with CNBC-TV18, Sandeep Bhatia, Head of Equity-India and Country Head-India at Macquarie Group said, “Short-term liquid funds may be the best way for the moment and wait for Nifty to fall below 16,800 levels and then look at this market - that's the strategy.”

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Despite the recent dip, India remains a leader when it comes to economic growth. With a large and growing middle class, a strong entrepreneurial spirit, and a government focused on economic reform, India is well-positioned to attract investment in a variety of sectors. However, there is a lot happening globally which is leading to the fall in Indian equities.

Talking about sectors, Bhatia said that as some sectors are facing challenges, others, such as the electric vehicle space are still positive for the long term. However, it's important for investors to do their due diligence and take a long-term perspective when considering investments in the Indian market.

One example of a company facing export-related issues is Bajaj Auto. The company has been grappling with supply chain disruptions and a shortage of raw materials, which have impacted its export performance. However, this does not mean that all sectors are facing the same challenges.

“Some specific challenges are for Bajaj because of its export markets may face political uncertainty or issues; whether the entire export piece should be stayed away, I think the biggest export piece as we all know is the IT sector,” said Bhatia.

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While banks have been the hardest hit due to events unfolding in the last few weeks, there are still sectors that remain positive in the long-term. For example, the IT sector has been a strong performer in recent years, and despite its current challenges, it is still an area that investors should consider for long-term growth. However, Bhatia pointed out, this is not a short-term trade and requires a long-term perspective.

He said, “As far as IT is concerned, I would remain positive, but it would not be a short-term trade.”

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