Optimistic at 75
As India celebrates 75 years of Independence, its transition from a poverty-stricken nation to one of the fastest growing economies of the world with independent democratic institutions is more than awe-inspiring. Millions of people have been lifted out of poverty, and the effective implementation of the reservation policy in education and employment over the decades has ensured the empowerment of a large section of the people.
However, there are genuine apprehensions from conscientious citizens over deliberate attempts from vested interests to polarise society on religious lines. India’s strength lies in cultural, religious and linguistic diversity. Any attempts to dismantle it should be nipped in the bud. Policymakers and leaders across the political spectrum should not be oblivious to glaring economic inequalities on the ground and walk the extra mile to ensure inclusive economic growth.
If the attitude prompted by President Droupadi Murmu is taken in the right spirit and carried forward by the people, the journey towards a welfare state will be much faster.
The President’s reference to ‘India marching into its golden age’ should be taken beyond the symbolic sense, and we need to mainstream and make the $1.5 trillion worth domestic gold stock become part of the productive economic resources of the nation.
Our progress since 1947 has indeed been remarkable compared to many other nations similarly situate. Yes, we still contend with class and caste divides and a sliding inclusiveness.
But our concern today ought to be as much on incipient competing and disruptive narratives set in neo-nationalism.
If overdone, it can impact the nation’s unified purpose and flowering of inspired initiatives. The politico-economic slide that could follow in its wake may be rapid and the repair prolonged.
Rakesh Jhunjhunwala was bullish about India all the time. His optimism sprang from the belief of the abilities of the Indian people. His foray into the aviation sector has just taken off and it is unfortunate that he will not be here to watch its progress.
Many investors have benefited just by following RJ’s investments. His legacy will continue to live long.
Hopefully, his family and trusts will carry on with his ideas on investments and trading.
A huge loss
Indeed, the sudden demise of Rakesh Jhunjhunwala is an irreparable loss to the Indian stock market since his contribution to it was immense.
Known as the Indian Warren Buffett, he served as the guru for investors with his impeccable market moves. Also, his passion for the country’s progress as well as his philanthropic contributions are laudable.
A role model
Jhunjhunwala was a role model for most Indian investors. His investment moves, if analysed, was with a vision and not for any short-term goals — the cardinal principle to be taken to heart by any stock market investor.
Being a qualified CA, his pattern of investment can be taken as a cue by any investor to reap gains in the longer horizon. The following quote of his reveals his humble side: “Success should not make you think you are God’s gift to mankind. You should never forget that you are what you are because God chose you to be there.”