India is not as poor as it is made out to be or they are not as rich as we make them out to be: Ashishkumar Chauhan, BSE
Reiterating on the relative strength of India with other nations with respect to handling of the Covid crisis, Ashishkumar Chauhan has said it has been proved over the last one year alone that India is not as poor as it is made out to be and they are not as rich as we make them out to be
Sensex’s journey to 52,000 is a true reflection of the strong India growth story, Ashishkumar Chauhan, MD & CEO, BSE, said in an exclusive interview to Money9.
Talking about the sharp decline in equities back just before the pandemic struck us hard, Chauhan said that much of it was caused due to scare-mongering.
“Many experts in the initial days of the pandemic were pessimistic about India being able to handle the Covid-19 crisis and the scare-mongering related to lack of ventilators, under equipped healthcare led to the 40% fall in equities,” he said.
However, he believes government efforts done to ensure an efficient lockdown and timely steps taken to curb the
disease from widely spreading have resulted in a sharp recovery.
On the momentous journey of Sensex so far, Chauhan mentioned how at a base of 100 of Sensex in 1979,
if one would have invested Rs 100, the investors would have garnered Rs 52,000 today.
Add to that the dividend and one would have seen a 720 times return on their investment in the past four decades.
He also says that no other asset class has been able to deliver such returns over the past four decades.
Taking about how India has shown resilience and strength amid this one in a century pandemic, he said as a whole including the government, the businesses and the society, India has fared much better.
“India today is not even in top 100 countries when it comes to Covid infections per million and countries which
have more than 25 times the GDP of India or over 100 times better healthcare are doing much worse,” he said.
Reiterating on the relative strength of India with other nations, he said it has bee n n proved over the last one year alone that “India is not as poor as it is made out to be or they are not as rich as we make them out to be “.
He believes that India has not just handled itself but the rest of the world well too as most
of the world’s back office whether in banking or retail etc. happens domestically and that is one reason
why the liquidity generated all over the world during the pandemic has also found its way to India.
Watch the full interview here
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Published: February 15, 2021, 17:29 IST
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