Super period' to be in equities: Dipen Sheth HDFC Sec

If you zoom out 10 years you see that market has delivered about 300 percent which means just a shade over 15 percent CAGR. So, these last 10 years were about – the first five years were about a global torrent of money and then the last five years or so was struggle with a government which was clearly losing its weight in terms of policy mix and yet this country is delivered something like 15 percent CAGR over these two periods.

What is wrong with India? Again if you zoom out even more then you say that there are two big levers that are wrong with India. One is that we are excessively reliant on imported energy for growing our economy and that is a basic ingredient of growth. Our energy intensity is far low, not just in per capita terms but even in terms of size of economy versus the other advanced economies or people who have found their way up.

Two, we have always had governments which delivered stumbles on policy and governance. Both these large humongous monstrous factors have taken care of themselves over the last one year. So, now if you tell me how do you feel about the next few months or years, I will say I don’t know about months but over the next 5-10 years this is a super period to be in equities.

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