Rakesh Jhunjhunwala, the ace investor and Big Bull of Dalal Street, was known for being very bullish on the Indian economy regardless of the challenges it faced. He had repeatedly affirmed his faith in the potential of the Indian economy. According to Forbes magazine, Jhunjhunwala had an estimated net worth of $5.8 billion, due to his sheer optimism and his bullishness on the Indian economy. He was part of a clan of investors who benefitted from the economic reforms of 1991.
Last year, while speaking about the COVID 19 battered economy at the India Today conclave, Jhunjhunwala said India is coming into a phase that it has never seen. Humara time ayega nahin, humara time aa gaya hai India s time won t come, India s time has come He said this at a time when India s economy was recovering from the woes of the pandemic. He believed that not only a decade, but the entire century, was owned by India.
In an interview, the optimistic Jhunjhunwala stated that India will take another 15 years to become a superpower despite his bullish views on India's growth story. India is on the threshold of the next stage of growth. He said that, going up 1 per cent every year, can reach 10 -- 11 per cent. India is expected to see double digit growth for at least 15 -- 20 years post 2025, according to the Big Bull.
He said things were improving in the Indian economy during the Pandemic and was quoted in an interview with a well known business daily. He said that we are having improvement in credit culture, we are having integrity come to the fore. He praised the government for taking measures to improve the ease of doing business in the country.
Since independence, we have raised our growth rate in every decade, and I think India is sitting on what is going to be the highest level of growth it has seen from 2020 to 2030, Jhunjhunwala said.
Warren Buffet of Indian Economy, known as COVID 19 was a mere diversion in what will be a long long bull run in the market, said AIMA Rakesh Jhunjhunwala, also known as the 6th National Leadership Conclave of All India Management Association. He went on to say that the Indian economy will grow in double digits for 4 -- 5 years, and that the Indian economy will grow in double digits. Jhunjhunwala may have left for his heavenly abode today but he will forever be remembered for his contribution to the financial world, for his witty and insightful remarks, and at the end he will be remembered for his bullishness on the Indian economy.