If one were to buy the Nifty at 17,600, one may not make any money one year out: Ashwini Agarwal

“We had a huge amount of restructuring going on in India as a result of the reforms that were undertaken in 1991. We are in a similar situation at this point. I would say that this is not a 10-year story but over the next one or two years, it is quite possible that the market does not really go anywhere.”