I am not afraid of making mistakes. But my mistakes were those that I could afford. That’s very important: mistakes will happen but you must ensure that you keep them within limits you can afford.
In my 25-30 years of experience in the markets, just as you cannot have a good relationship with a woman by bullying her, you cannot have a good relationship with the market by trying to bully it or say that you are the king. Market is king.
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.
Ultimately savings have to go somewhere and I think they will find their home in financial markets and within financial markets, a large part in equity.
Draw a balance between the present and the future and one advice I give to every young Indian – the most difficult thing in India, urban India, is housing. So first thing that you do is try and buy house as that gives a great sense of security.
