A day after Mercedes India sales and marketing head Santosh Iyer said that the rising popularity of SIPs (Systematic Investment Plan) in India has hit the sale of luxury cars, Radhika Gupta shared a throwback photo of her in a Mercedes showroom while working with Edelweiss.
Taking to Twitter, the MD and CEO of the financial services company wrote, "A few years ago I was indeed selling SIPs in the Mercedes showroom. Shot in 2020, when ET 40 under 40 was sponsored by Mercedes."
A few years ago I was indeed selling SIPs in the Mercedes showroom(Shot in 2020, when ET 40 under 40 was sponsored by Mercedes). https://t.co/lp5M8JTzro pic.twitter.com/qvvVh1GbbJ
— Radhika Gupta (@iRadhikaGupta) November 28, 2022
Gupta's tweet This was in response to Iyer's statement to Times of India where he claimed that if the money saved for SIP was diverted toward the luxury car market, the business would improve tremendously.
"There is a savings mindset in India because social security measures here are much fewer," the Mercedes India top executive told the publication. "There is a tendency to save not only for yourself, but also for your kids. This is unlike the West, where you save for yourself to the maximum extent... The Rs 50,000 that a potential customer invests into a SIP if diverted towards the luxury car market, will see business explode."
But besides being the head of an investment and financial services firm, Radhika Gupta herself has often spoken out in favour of SIPs, even going on record to say that she would be opening one for her toddler son.
She tweeted that she is going to start at SIP in a large and midcap index fund for their son.
“The power of compounding is immense for children, and the sooner you start the better…What better way to teach them about managing money than them having their own investments," Gupta tweeted.
“The one lesson about money I would want to teach my child: value it. Be grateful that you have more than your parents and grandparents, and make the most of the limitless opportunities India offers your generation. Investing will then take care of itself."
Read more: Nithin Kamath weighs in on Mercedes executive linking SIPs to low sales
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