The Five Ds That Drive Growth
I was at the 21st Anniversary celebration of Capital League, a financial advisory firm that employs only women.
Navneet Munot, MD & CEO of HDFC Asset Management Co with the team at Capital League LLP
Wealth is created through wisdom - not info
Everyone was eager to listen to Navneet Munot. His key message was that one must stay invested in India because there are 5 Ds that are going to drive growth in India. When asked about the recent dip in Sensex, he brushed it off as a small correction. Uncertainty will continue to be a part of our lives. He reminded us about so many “black swan events” that have happened in recent times. From 9/11 and 26/11 to Covid, the war in Ukraine, Israel-Palestine war, and climate change. There is an extreme climatic event happening every day of the year. So what makes him so bullish?
India’s per capita income is approx $2500 in 2024
Singapore was at $2,500 around 1975, South Korea in about 1985. US was at that level in 1950s and is now at a per capita income of $81,000. So why should we feel optimistic? There are 5Ds that favor India.
Democracy every citizen has a vote from day 1 of independence. It is a chaotic democracy but it works.
Demography - India will remain a supplier of talent to the world.
Development is visible when you look at every village getting electricity, water, roads, ports and airports.
Data costs the least in India and that is making us fast track.
Determination of 1.8 billion people is hard to match.
We need to continue to fast track our growth.
Capital league had organized an awesome artwalk with paintings from Sunil das, Husain and many more
