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Poll outcome shows India has moved past vote bank politics: Jhunjhunwala

"You can’t have slowdown in country like India for a longer time,” Jhunjhunwala said.

Last Updated: May 23, 2019, 01.43 PM IST
Mother of all bull market is still ahead of us and the best is yet to come for the Indian economy, said ace investor Rakesh Jhunjhunwala in his reaction to the election verdict, which appeared to have sent the NDA back to power for a second term.

In an interaction with ETNow, the Big Bull said the election outcome shows India has moved above from the old vote bank politics, pseudo-secularism and casteism into mature politics. “The country is going to see good economic policies which will help create a far more prosperous India,” he said.

Jhunjhunwala, often referred to as India’s own Warren Buffett, said expectations from NDA 2 are not as high as it was from NDA 1. “This mandate is to make them do what is right and what is realistic. This mandate is for growth and development and for the fulfilment of India’s aspiration,” he said.

The market veteran said India is on track to achieve highest growth in the next decade with a dramatic increase in global inflows. “We are going to see good economic policies and creation of a far more prosperous India,” he said, adding that NDA 2 should focus on land laws, labour laws and privatisation.

Jhunjhunwala believes earnings recovery will surprise Dalal Street from next year. “I think the slowdown in industries like auto is temporary. You can’t have slowdown in country like India for a longer time,” he said.

He said the trade tension between the US and China is an opportunity for India.

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