Nilesh Shah, Managing Director of Kotak Asset Management, argues that India does not need to rely on foreign investments for fundraising, highlighting the substantial domestic investment in gold and silver.
At the Global Securities Markets Conclave 2.0, Nilesh Shah emphasized that India is capable of financing its needs without depending on foreign investment, as approximately 150% of the country's GDP is already invested in gold and silver. He pointed out that despite the negligible contribution of Foreign Direct Investment (FDI) to GDP, which stands at only 2%, there's a persistent quest for investments outside of India, which may not be necessary.
Shah drew a parallel with the 'Kasturi Mrig' (Musk Deer) and the 'Golden Bird’, suggesting that similar to how the musk deer seeks its fragrance externally while it resides within, India often overlooks its internal potential for investment in favor of external options. He believes the real strength lies within the nation, and it is crucial for India to redirect its savings and resources effectively.
By harnessing its domestic capabilities, Shah posits that India can transform itself into a 'Golden Bird', capitalizing on the existing wealth and savings. The key lies in fostering and increasing domestic investments rather than continuously searching for international avenues for funding.
