I think when markets go up and there is no manipulation in markets and people question the market going up and it keeps going up, that is a true bull market.
My personal opinion is that when the economy does well, anybody who has a deposit franchise will survive and grow because how can you lend if you do not have a deposit franchise?
My father was always not concerned about the wealth I have, but every year he would ask me, how much have you given in charity? And how much taxes have you paid?
In India, one has to have faith in equity. What are the alternatives – real estate, debt? If debt can give you 6 percent, equity can give you 15 percent.
There has to be a period of consolidation in the IT industry. Similarly in pharma, I think India is going to be a world power. We have the lowest cost, good technology, Indian companies are gaining size.
