PM Modi meets 'one and only Rakesh Jhunjhunwala', says he's 'very bullish on India'

By Administrator_India

Capital Sands

Prime Minister Narendra Modi showered compliments on ace investor Rakesh Jhunjhunwala, following their brief meeting in New Delhi on October 5.

Modi said he was delighted to meet “the one and only” Jhunjhunwala, calling him “lively and insightful”.

Modi, in his tweet, noted that Jhunjhunwala is “very bullish on India”. The prime minister’s remark comes weeks after the Big Bull – as Jhunjhunwala is prominently referred to – said retail investors should invest at home and not in the US for better returns.

“Please don’t invest in the US. When the food at home is good, why eat outside. Believe in India. Invest my fellow Indians and prosper,” Jhunjhunwala said in an interview with CNBC-TV18 on June 21.

One of India’s most successful investors, Jhunjhunwla has reiterated on earlier occasions that he was bullish on the Indian market as the economy was going to see healthy growth.

“The economy is at a take-off stage. We went through an NPA cycle and we went through a lot of changes such as Jan Dhan, IBC, RERA, reforms in mining, labour and farm laws. Indian is on a threshold of good and long economic growth. The structural change that is happening in the Indian economy is coming to the fore,” Jhunjhunwala said earlier this year.

Counted among some of India’s most wealthiest individuals, Jhunjhunwala along with his family has a net wealth of Rs 22,300 crore, according to the recently released IIFL Wealth Hurun India Rich List.