Rakesh Jhunjhunwala takes dig at UPA regime

Rakesh Jhunjhunwala

Exuding confidence in the India growth story, ace investor Rakesh Jhunjhunwala on September 27 said that his belief stems from the measures taken by the Modi government.

"I am not bullish on India because I am patriotic. I am bullish on India because I can see the reality. No country has retained prosperity with democracy. India is experiencing its most favourable demographic situation and the current government will do everything to reach the target of becoming a $5 trillion economy. The previous government had a chalta hai attitude. Ab Hindustan badal gaya hai," he said during a speech at the World Hindu Economic Forum. 

He opined that SIP is the best way for retail investors to invest in Indian equities.

"SIP is the best way for retail investors to invest in Indian equities as it enables an investor to invest in all stages of the market," Jhunjhunwala said.

Also Read: Rakesh Jhunjhunwala says no reason to worry about growth

Talking about his investment style, he said he does not prefer investing in commodities or real estate, and for him, it is only 'equity, equity and equity'.

Highlighting the significance of asset allocation, he said it is the most important aspect for wealth creation.

Commenting on financial advisors, Jhunjhunwala said the performance of a financial advisor in a bad market is an opportunity to assess how good he is.

On employment woes, he said robust economic growth is the only solution.

Emphasising the need of developing a strong fixed income market in India, he said: "Fixed income assets haven’t become unsafe. We have to develop a robust fixed income market in India."

Asked why India's bond market is not as developed as the equity market, he said PPF is one of the reasons why bond market is not developing.