And for a Friday in the commercial capital of India, Mumbai, amidst a falling share market and a favourably developing US Cabinet, some thoughts….. some musings…..
The announcement by President-elect Trump of Eon Musk and Vivek Ramaswamy led initiative to completely revamp American Economic system – D.O.G.E – to dismantle Govt bureaucracy, slash excess regulation, cut wasteful expenditures and restructure Federal Agencies. Less Government more Freedom and imagine a fairy tale. Taking a cue, GOI sets up an all powerful committee chaired by Deepak Parekh, with Uday Kotak, Nandan Nilekani, Azim Premji, Rajiv Bajaj with same objectives. Project to make India at number 2 in the world economy. Well, it can be only a distant dream. US is a market oriented Capitalist Economy with a per capita income of 60,000 $s and India, irrespective of political parties, a “left of centre” oriented Socialist Economy. Our politicians and entrenched union leaders will never allow such drastic and revolutionary changes.
On a connected note, the share markets are correcting. It’s still only less than 10% of its all time high. It’s a correction phase. Will it enter a full Bear phase? I don’t think so. India is poised to overtake Japan and Germany. India, the only fastest growing large democracy, coveted by the new Republican US to combat China and old friend Russia and friendlier Middle East and an amiable Africa Union. With a growing domestic consumption story and global acceptance, this is India’s decade. So markets will bounce bank to new heights. Every fall in the NIFTY now is an opportunity to cherry pick stocks for those already in the market and for everyone not in India’s share market, to enter. Get into one time investment or thru SIP. Whether you are 25 or 75, you must partake in the rising India story to beat inflation and create wealth.
Whilst Mumbai, like rest of Maharashtra, is gearing up for elections on 20th Nov, lets all resolve to MIEG – Make India Even Greater – the participative way, the inclusive way, the SEEGOS way.