In seeking greater participation in commodities market, Rakesh Jhunjhunwala said that he wanted regulators to ease up and allow everyone to take part in the market. “Regulatory authorities are too careful, they should allow everyone in the commodity market.”
Jhunjhunwala was speaking at an event organized by MCX today in Mumbai.
He urged Corporate India to start hedging in commodities, adding that speculative interest should be permitted in commodity exchanges.
Talking about government reforms, the Big Bull said that the Centre will hopefully undertake bold agricultural reforms.
He pitched for every India family to keep 2-3 percent of their wealth in gold or jewellery. Bullish on Indian markets, he expects a Tsunami of inflows into the India equity markets. He also said that the bull market in crude is over.
He was against the idea of FIIs paying taxes in Gift City. “It should all be totally tax free,” he said.
He is hopeful of India growing at 10-12 percent and thinks that post tax returns of 18 percent in equity is very good.