Skills and democracy are the principle drivers of sustainable progress, ace investor Rakesh Jhunjhunwala stated on Friday, including that he’s bullish on the Indian market. “If you examine the history, democracy creates chaos and forces people to think and act. Therefore, skills and democracy are the main drivers of sustainable growth…It is most needed..,” Jhunjhunwala stated on the ‘India Today Conclave 2021’.
On markets, he stated he’s inherently bullish and India is coming to a section economically that it has by no means seen earlier than. “Earlier I used to say our time will come but now I am saying that our time has already come… There are so many more savings to come…So, I am very bullish, corrections will always come, but I cannot time the market beyond a point,” he added.
Asked about his latest assembly with Prime Minister Narendra Modi, Jhunjhunwala, with out divulging a lot, stated they talked concerning the financial system. “I told the prime minister that the economy is going to take-off,” he added.
When requested about his entry into the aviation sector when some corporations have gone bust, Jhunjhunwala stated he can’t say a lot however he’s ready for any final result. “We will see what happens. If it becomes successful, I will tell you about it and if it fails, I will simply say I didn’t do anything much about it. I am taking a conscious risk…I am hopeful and prepared for failure,” he added.
Talking about divestment, he stated round 10-12 corporations are more likely to be divested until March 2022. “BPCL, LIC, Container Corporation, Shipping Corporation and some more… I think there will be 10-12 divestments between now and March 31, 2022, including LIC, which I think the government is very serious about,” he famous.
Jhunjhunwala additional stated danger is a four-letter phrase and the essence of life. “We can predict it but we cannot know it. Only the future will tell us what it is.” “I am a very measured risk taker. When you take a risk, you should be conscious of it and if things go against you, you should be able to bear that loss, without any emotional damage or any substantial financial damage,” he added.
“I like to predict markets. Sometimes I am right and sometimes I am wrong. When I am right, I feel elated and when I am wrong, I learn….I am not afraid to make any mistake, only one that I can afford,” Jhunjhunwala stated.
(PTI)