New Delhi, April 7 -- India's domestic-focused businesses will feel relatively less pain of the US reciprocal tariffs and it would pay to stay invested in businesses oriented toward local markets, according to a top fund manager of Kotak Mahindra Asset Management Company Ltd.

The tariffs have raised uncertainty, which the market doesn't like, said Harsha Upadhyaya, president & chief investment officer at the fund house. "One way of insulating investor portfolios amid this rising uncertainty is by investing in domestic-facing businesses."

His fund's portfolios are 85% tilted toward such companies, and prefers large banks, while being slightly underweight on IT.

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That global growth will slow down and inflation moving up ...