(https://i.ibb.co/DHvy3BRb/rq36ffz526ug1.png)
A dead economy that survives only on bluff; services like Somalia, but taxes like Europe.
(https://i.ibb.co/hxy84Dgz/91g9b8yo56ug1.jpg)
TLDR: Absolute capitulation has happened. No seller left to sell anymore.
We lack innovation. Innovation-focussed companies keeps investors invested in them because there's little like them anywhere else.
Majority of the big companies and all are just involved in middlemen-type businesses. Take it ambani or adani...they take mining, energy, telecom projects from govt.
Remaining else are mostly service-based entities - IT, being the biggest example which is also at risk now thanks to AI.
Fraud companies not being penalized properly or at all - Ola, indusInd bank and others who scam their customers, steal their money...nothing of impact is actually done to these companies while people's hard-earned money that they invest in MFs are used to buy their equities instead of bail them out (govt recently used LIC to buy a big chunk of Adani's bonds when no one else would. It's mostly the public's money in LIC).
Zero leverage on global level - india doesn't have its own crude production (like Russia) or advanced tech (like China). Hence, whenever a geopolitical situation happens, were basically powerless. Take the recent west-asia conflict and Hormuz closure.
Taxes and bureaucracy - do I even need to explain this one?
The ONLY reason FIIs invest in Indian market is to make some return in the short-term duration (3-5yrs). They have nothing here of their money's worth for them to remain invested long-term, especially in today's global economic conditions.
What ANY investor chases is growth
I don't think there is any sense in allocating to equity until India gets back on Growth path .
I still expect FD type equity returns(mind it FD Returns are now tax free up to 12 L interest) unless Crude comes below $75
I believe he is correct. India is making efforts to develop, but corruption among politicians and government officials is holding us back. I am Indian and have been living in Europe, and I had planned to start a business manufacturing hardware parts (planned capital is around 25 crores) in India. My local MLA and others asked for a total of 6 crores for permissions. I told them FUK OFF (actually, no sir, I don't have that much money) and never considered starting a business in India.
In India, corruption has become so common that it often feels like we owe money to officials just to get things done. It seems to affect almost every government office. In the past, the situation was better, but now corruption has become a normal part of daily life.
Oil related issues are at other places as well.
And the rise of AI is also helping US, Chinese markets may be not the markets that he has mentioned.
His point related to STT etc. is valid
Somebody told him and here he is just writing what somebody said to him.
These are not his thoughts and so the government should not hound him is what somebody said to me.
Taxes like England
Services like Somalia.
Censorship like China.
Mera Bharat Mahan
That we are having this discussion shows the misplaced priorities of Indians. Not even a $3000 gdp per capita country but we are already beholden to the unending creep of financialization. It is too fast and it is too early.
Stop with this innovation and this "risk-taking mentality" crap. India doesn't need innovation to give others a dignified life. India needs people in the middle class and up. And that won't happen if people focus on innovation. That will happen when people join factories and offices, doing simple things and over time doing bigger and complex things.
Once you reach a critical mass, only then will a country be upper-middle income and only then then innovation will happen. People need to create stability in life for themselves and their families. That means a normal 9-5 job. People in poor countries will naturally prioritize this. Not "inNovAtIoN" so the privileged can show off to the rest of the world.
Poor shitholes don't innovate. They cannot afford innovation. It's like asking a 5th grader to do 12th grade shit. Also, India already outperforms in innovation relative to its level of development. Greed isn't good.