Billionaire investor Rakesh Jhunjhunwala on Thursday sounded very optimistic in his outlook for India, going so far as to say India will grow at 10 percent by 202-5-26.
Speaking to CNBC-TV18, Jhunjhunwala said India needs a plank -- such as ease of doing business -- and said, "India ka time aa gaya hai."
Jhunjhunwala also emphasised the need for housing to develop at the same pace as other infrastructure, such as metro rail connectivity. He said with the development of infrastructure comes urbanisation and thus, the need for housing. He said the role of housing in driving urbanisation must increase. Jhunjhunwala said the pace of Indian urbanisation needs to pick up, overusing that currently, it half the level of urbanisation in China.
"You go to London, wherever the metro goes, housing has developed. So, Mumbai is making 40km of metro and it has been made--as the transport systems come, the potential for housing is going to go through the roof. Your cities are going to get decongested and urbanisation in India is today half of China--45 percent, as urbanisation comes, housing has to come," Jhunjhunwala said.
Speaking against the backdrop of how he had done so much business sitting at home in the past two years, Jhunjhunwala called on the government to broadbase this model.
In an earlier interview to CNBCTV-18, Jhunjhunwala said he believes India is following China with respect to its provisions on digital currency. Highlighting the point further, he explained that Budget 2022 has in fact made RBI the sole authority capable of promoting digital currency, thereby killing all other cryptos in the process. This especially assumes significance since the Cryptocurrency Bill is yet to be tabled in Parliament.
“I think what government wants to do is that it wants the Reserve Bank of India (RBI) to promote digital currency and kill all other currencies, just like China is doing, which in a way is the right approach also.”
(Edited by : Vijay Anand)
First Published: Feb 17, 2022 4:13 PM IST