Rakesh Jhunjhunwala says it will take India 15 more years to achieve superpower status

Rakesh Jhunjhunwala | While maintaining his bullish view on India and its growth story, ace investor Rakesh Jhunjhunwala believes that it will take another 15 years for the country to become a superpower.

“India is on the threshold of the next stage of growth. I see double-digit growth this year and 6-6.5 growth next year. That going up 1% every year and can reach 10%-11%,” Jhunjhunwala said in an interview with Republic TV.

Double-digit growth

The Big Bull thinks that India will see double-digit growth for at least 15-20 years post-2025. “India will also have a more cohesive society and the country could be a pharmaceutical and entertainment hub of the world after software,” he projected, adding entertainment is a very big industry.

Sharing his thought about the ongoing uncertainties over the coronavirus pandemic, Jhunjhunwala said, this is equivalent to war and the country will win.

“This is flu and not cancer. I don’t think it can damage us as a country in the long run. It will make us stronger,” he added.

Jhunjhunwala’s portfolio

With an investment of over Rs 16,000 crore in equities, Jhunjhunwala is the second biggest individual investors in the country after D-Mart owner Radhakishan Damani. Jhunjhunwala holds over 1% stake in more than 30 companies listed on bourses.

Titan, Tata Motors, Lupin, Jubilant Pharmova, Crisil, Escorts, Fortis Healthcare, Nazara Technologies and Rallis India were among the top holdings of Jhunjunwla as of March 31.

In another interaction with AIMA, Jhunjhunwala last week said that he is extremely bullish this time and believes battered stocks may deliver a good return. “There will be a big upturn in the Indian economy. Cyclical stocks and the most battered smallcaps and midcaps will outpace blue chips like HDFC and Titan over the next 4-5 years,” he added.