The opinion came as a retort to repeated questioning by a London-based investor at the World Hindu Economic Forum on the rising joblessness here.
It could be said that in 6.7 per cent, unemployment has climbed to some 45 year large in 2018, according to the official data, which the government though has chosen not to make public. In defence, officials state that the data do not catch the gig market and other self-employed jobs.
“Do not come if you do not need to (invest in India). You go to Pakistan”, an irate Jhunjhunwala said, once the investor persisted with his queries during a panel discussion in which the large bull participated.
Originally, Jhunjhunwala, the largest individual investor in the nation, said the only remedy to unemployment is strong growth.
The duel started when Jhunjhunwala interjected to a query from the British investor on employment, countering it with a claim that if joblessness is so widespread, it will not be so tricky to discover a driver in the monetary capital.
The investor brought Jhunjhunwala’s focus on the India beyond Mumbai, and pointed out that in the past decade, we’ve had strong expansion but despite this, unemployment climbed.
At one point, Jhunjhunwala asked the man to stop, forcing him to maintain his right to ask questions that bothers him as an investor.
We do not require money from such skeptics, Jhunjhunwala said, and afterwards advised him to visit Pakistan and spend there at a roaring way once the investor stressed that India wants foreign money.
He explained afterwards steeply cutting corporate tax, overseas currency is bound to stream in and worried he is bullish about the nation not because he’s patriotic but because it makes sense as a investor.