The three D's - Democracy, Digitalization and Demographics - are going to drive Indians future growth and the future is India's, billionaire investor Shri Ramesh Damani said. He was speaking to the audience at the seminar 'Journeys of Extraordinary Wealth Creation in India' organised by Institute of Chartered Accountants Indian - Kuwait Chapter at Radisson Blue hotel Kuwait.
Ramesh Damani, the celebrated investor in the Indian stock market said that Democracy is the key pillar of Indians economic growth. We have s stable majority government for almost 7 to 8 years now. So the basic of rules which govern the economy don’t change very often unlike a coalition governments. We have a rule of law in our country. It may be challenging at time, but there is a rule to follow, which guarantee a stable economy. The second 'D' he referred is for Digitization, which is leading India to the back office of the world. Third 'D' - Demographic is very much favourable to India as India is a very young country with young population.
The India’s growth story started in 1991 when the then finance minister opens the door for economic liberalisation. We witnessed an extra ordinary growth in the last 30 years. The next 30 years will be as good as the last 30 years. There have been extra ordinary good companies built in India over the period. If you want growth, India is perhaps the great list to go, he said.
Indian had witnessed a lot of events during its journey which shook the Indian economy, however still the Sensex rose from 6,00 to 60,000, he said.
During his speech, Damani also introduced great time investors in Indian such as Chandrakant Sampat, Nimesh Sha, Vinod Sethi, Rakesh Jhunjhunwala and Radhakrishna Damani and their journey of classic investing.
With a true spirit of Conviction and temperament, stock market is the right place for wealth creation. He urged everyone to have temperament and have a long term horizon for wealth creation by investing in good companies. "There is a plethora of opportunity and you all must be aware of the benefits of compounding. If you start early and stay invested and do not get carried away, you can create wealth," he said.
Earlier, Indian Ambassador Shri Sibi George congratulated Institute of Chartered Accountants India Kuwait Chapter for organising the event and bringing the famed Investor Shri Ramesh Damani to Kuwait. Despite of many challenges, India has constantly promoting easy of doing business and regained the confidence of business community, Ambassador said. Indian's IT sector saved many countries during the covid crisis by working around the clock, he added.
Faisal Mansour Sarkhou, the chief executive officer of Kamco invest, who was the guest of honour at the seminar, appreciated the effort of Indian Chartered Accountants in Kuwait for their dedicated, diligent and hardworking nature.
ICAI Kuwait Chapter Chairman Shri CA Deepak Bindal welcomed the audience and Vice Chairman CA Sriram Gopalakrishnan proposed vote of thanks. The event was attended by large number of Indian CA's and invited guests.