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Three D's to drive India's growth; Ace investor Ramesh Damani urge NRIs to be part of India's growth story

IIK Staff Reporter Sunday, May 22, 2022
Three D

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.

Ramesh Damani in Kuwait

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.

Ramesh Damani in Kuwait

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.

Ramesh Damani in Kuwait

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.

Ramesh Damani in Kuwait

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.

Ramesh Damani in Kuwait

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.

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Express your comment on this article

Monday, May 23, 2022
Dear William, Your comments clearly shows your lack of knowledge. As an investor, I am very happy last 4 to 5 years as we have a stable market in India now.
I am happy that even 70 years old need to file ITR as it clearly shows that there is a rule of the land, which is the basic required condition for an economy to grow.
your comments day by day rule are changing is totally out of your despire as a failed person as the speaker himself said that we have a stable rules now.
Go and get a life first. then learn about the country, then start commenting.

William D’Souza
Monday, May 23, 2022
There is a constant fear with NRIs to do even FDRs, fear of freezing FD principle amount under the present govt, as it is government is selling the govt properties, accumulated by the previous regimes. Day by day rules are changing, now senior citizens above 70 also have to file IT Returns, this is disasterous. NRIs are even afraid to go back, as there is no pension plus now IT rules changing day by day.

indian expat
Sunday, May 22, 2022
Most NRI''s and foreign investors are not confident to invest in India as it posses a threat as Govt monopolised all sectors and provide support to only two persons Ambanis and Adanis. Govt must stop all freebies and facilities to these guys if our country need to develop overall and bring prosperity to all Indians and install confidence in foreign investors that they will get returns when invested in India .Hope Govt act before its too late.

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