Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout of important reforms over the last five years.
"We are now having improvement in credit culture, we are having integrity come to the fore," he said, adding that the government has taken steps to improve the ease of doing business in the country. "The China-America spat on trade is a great opportunity for India. I don't see any reason why growth in India will not come back with a bang."
"We've raised our rate of growth in every decade since independence," he said. "I think India's sitting on what is going to be the highest level of growth it has ever seen from 2020 to 2030." Former Reserve Bank of India governor, Raghuram Rajan, also expressed doubts over India's growth number. He was reported to have said that it was unlikely India grew at 7% when not enough jobs were being created,Jhunjhunwala, for his part, downplayed the concerns about the numbers.
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