Billionaire investor Rakesh Jhunjhunwala has stated that Bharatiya Janata Party (BJP) will be re-elected in the upcoming general elections and not only that, it will also surprise everyone with its seat tally on the upside.
While speaking at the TiECON Summit, organised by Economic Times in Mumbai on Wednesday (6 February), he noted that irrespective of the party that comes to power in May, India will continue to prosper as the country ‘grows not because of politicians but in-spite of politicians.’
“Growth and prosperity come only when there is chaos, like in India and America. Democracy, entrepreneurship and natural resources are factors behind India’s growth,” he added. However, he warned that the two factors that could undermine India’s growth story were unstable currency and China with high debt.
He also said that though volatility in crude oil prices and trade wars between major economies, might result in a global economic slowdown, they will not necessarily impact ‘financial markets.’
Not The First Time
Despite BJP losing three state assembly elections in December 2018, he had stated similarly that BJP would return to power in the 2019 general elections.
“India is a responsible democracy, and markets are above individual parties and personalities. But I am a BJP supporter and will remain one. The sky is not going to fall if the BJP does not win. But market has a desire that the BJP returns to power,” he said.