As we begin the new year, the sentiment on Dalal Street is very upbeat. The number of demat accounts in December hit a record high of 41.78 lakh and is significantly higher than what we saw last month. Speaking to CNBC-TV18, Radhika Gupta, MD & CEO, Edelweiss MF talked about her report, aptly titled: Is this India’s decade?
According to Gupta, India has matured over the years, evolving from its historical past to post-independence struggles, finally emerging as one of the world's top economies. She attributes this transformation to a combination of factors: a youthful population, the entrepreneurial spirit of the private sector, and government policies aligning with the aspirations of the people and businesses.
She said, “There are multiple things that are working. One is the young population of India. I think we really have a large demographic dividend at play, something that China had maybe 15-20 years ago, and this young population will be creating companies, building companies, consuming data, and all of that. So I think demographics are working.”
Gupta emphasises the demographic dividend that India enjoys, similar to what China experienced 15-20 years ago. This young population, she believes, will drive the creation and consumption of companies, making India an exciting place for economic growth.
The private sector's animal instincts, from startups to large enterprises, play a crucial role in shaping India's economic landscape. Gupta also underscores the significance of government policies aligning with both public and corporate interests.
Comparing India to China, Gupta draws parallels in demographic advantages, low labour costs, and emerging trends in export and credit growth. Notably, India's GDP per capita today mirrors China's 15 years ago, indicating potential growth reminiscent of China's earlier success and the United States in the late 80s and early 90s.
For the full interview, watch the accompanying video
(Edited by : Ajay Vaishnav)
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