Chennai, Jan 6 (IANS): Indian stock markets will continue to exhibit resilience in 2023 continuing the trend from 2022, with manufacturing, electric mobility, infrastructure and defence as themes doing well, said Windmill Capital, a research analyst company.

This despite concerns around global slowdown and a possible recession in the West due to unwinding of monetary policy by major global central banks, Windmill Capital added.

As to the challenges in the current year to global economic and equity growth, escalation of geo-political tensions between Russia-Ukraine, China-Taiwan, and a fresh spike in prices of crude oil, the company said.

In 2022, comparative to most global markets, the Indian markets have managed to be in the positive terrain with gains of 3.02 per cent.

According to Windmill Capital, the reasons for the positive performance by the Indian markets are: Indian government's proactive policy making; a pragmatic monetary policy; business resilience.