I told the Prime Minister that the economy is about to pick up.
Eminent investor Rakesh Jhunjhunwala on Friday said skill and democracy are the key ingredients for sustainable growth. He said that he is very optimistic about the Indian market. Jhunjhunwala said in ‘India Today Conclave 2021’, “If you examine history, you will find that democracy compels people to think and act. Therefore, skill and democracy are the main drivers of sustainable development.
Regarding the market, he said that he is naturally optimistic and India is reaching a stage economically it has never been seen before. He said, “Earlier I used to say that our time will come, but now I am saying that our time has already come… there are many more savings to come… So, I am very optimistic….” Asked about his recent meeting with Narendra Modi, Jhunjhunwala, without divulging much, said that he talked about the economy. “I told the Prime Minister that the economy is about to pick up,” he said.
Know what was said about the entry in the aviation sector
When asked about his entry into the aviation sector, Jhunjhunwala said he cannot say much but he is ready for any outcome. “We will see what happens,” he said. If it succeeds, I’ll tell you about it and if it fails, I’ll just say I didn’t do much about it. I’m taking risks consciously… I’m hopeful and ready for failure.
10-12 companies will be disinvested by March
Regarding disinvestment, he said that there is a possibility of disinvestment of about 10-12 companies by March 2022. He said, “BPCL, LIC, Container Corporation, Shipping Corporation and a few others… I think between now and March 31, 2022, there will be disinvestment of 10-12 companies including LIC, which the government is very serious about.” ‘
Always take calculated risk
Jhunjhunwala further said, “Risk is a four letter word and is the essence of life. We can predict it but we cannot know it. Only the future will tell us what it is.” He said, “I am a very measured risk taker. When you take a risk, you should be aware of it and if things go against you, you should be able to bear that loss without any emotional damage or any financial damage.
Likes to guess the market
Jhunjhunwala said, “I like to guess the markets. Sometimes I am right and sometimes I am wrong. When I’m right, I feel excited and when I’m wrong, I learn… I’m not afraid to make a mistake I can tolerate.”
Also read, Forex reserves fell for the fourth consecutive week, this week decreased by $ 1.16 billion
Also read, Mukesh Ambani’s wealth crosses $100 billion, joins the club of Jeff Bezos and Elon Musk