India entering a golden period and could grow at 10%, says Rakesh Jhunjhunwala

Ace investor Rakesh Jhunjhunwala on August 8 said India is entering a golden period and the country could grow at 10 percent. Known famously as the big bull, Jhunjhunwala also said that credit demand, in general, will go up and fuel the growth in public sector banks. He's also bullish on the hospital space.

“India is going to enter a golden period and I see India growing at 10 percent,” Jhunjhunwala told CNBC-TV18 in an exclusive intervaiew ahead of the country's 75th Independence Day anniversary.

From Rs 2.7 lakh crore in 1947, India's gross domestic product (GDP) has increased to Rs 197.5 lakh crore in 2022. Likewise, India's foreign exchange reserves have increased from $3 billion in 1947 to $574 billion. Indian companies' market cap stands at $3,437 billion in 2022, from a mere $23.6 billion in 1988.