KV Kamath at a conference organised by @ICICIPruMF
If in Formula 1 race if we can change tyres in 2 seconds, we can reset the country in a blink of an eye.
The magic at blink of an eye which was done during the lockdown.. taking orders on Whatsapp, Google Sheets, settting up of websites, setting up adhoc counters to sell & deliver goods.
This was a mind reset to do work on the fly
@swiggy_in y transformed from food delivery to world class delivery platform - this is an excellent example of blink of an eye disruption and a response to act. #swiggy
Unless your App looks like a website and keeps on changing shapes / colours every day, then you are at risk. One needs to reinvent yourself on a monthly basis to be on the feet to avoid getting discrupted by the Startups.
Zero Interest rates - when and how will this end. This is not sustainable. Japan has been close to zero for 20 years. The correlation is with Growth. If it is not there, rates will be close to zero.
The issue is not with India - has 25 yrs+ growth path in future.
The issue with Zero rates is for the savers. With decreasing passive income, savers would need to look towards govt for handouts.
The issue will be for the Govt debt. This can be resolved only via Growth via harvesting through the incomes coming from Growth. US could recover. India would definitely recover. But what about Europe - that is a doubtful area.
Will we get raging growth from 2002-07 ?
Every 10 years, the top Companies keep on changing who become the biggest and the fastest growers. The challenging & interesting task for fund managers is to identify such new players and blend it with old players in portfolio.
Good things to learn from China
The growth in China is real. Their activities are real. E.g. in Shanghai, they built 30 km of cycling track with Gardens, etc. in 6 months. The activities result in linked employment.
Speed and precision of Execution is remarkable
Interest rates are kept low for borrowers, lending @ 5% unlink more than 10% in India.
Projects of economic value are done at speed.
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