We continue to remain positive on Indian equities: Prashant Jain

economictimes.indiatimes.com:

"India's nominal GDP is growing around 10-11% because we are fundamentally a lower inflation country. So, I think to that extent we need to reset our long-term return expectations," says Prashant Jain, 3P Investment Managers.

You were telling us about your next seven-year idea. Seven years back, it was PSUs. And it cannot be a SIP.
I think buy Indian equities because India's growth is accelerating. You cannot ignore that. Our cost of capital is lower, you cannot ignore that. The local flows are sizable. And our bank balance sheets, company balance sheets are extremely good. Our current account deficit is low. The external environment is very conducive whether you talk about manufacturing or about services. So, I think I would be positive on India. I would continue to be positive on Indian equities. And see, please appreciate what happened yesterday. If something moves up 10%, 12%, and it is pricing in a lot of expectations. After all, what changed in a single day yesterday? Nothing.

We are still up from Friday's close. With all the mumbo-jumbo, with all the volatility, you add today's gain, loss and Friday's, yesterday's gain, we are up 1% from Friday's close. So much so when you go higher, if you fall by one story also, it looks like a steep fall. But logically, only down by one story. The peak of the mountain, you come down by 10 meters, you would say, oh my god gravity is at work. No, it does not work like this. It is that you are still higher than what the Friday's close was. Okay, one conversation we had when