Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman met well-known stock market investor and Akasa Air founder Rakesh Jhunjhunwala, noting that he is very bullish about the Indian economy.
“Delighted to meet the one and only Rakesh Jhunjhunwala… Lively, insightful and very bullish on India”
Modi tweeted
The Ace Investor is foraying into the aviation sector and is contemplating to invest $35 million to launch an ultra-low-cost airline Akasa Air. The airline will house 70 aircraft within the next four years while the aircraft can carry 180 passengers.
Jhunjhunwala had recently told a Bloomberg TV interview that he is “very, very bullish on India’s aviation sector in terms of demand”. Jhunjhunwala will own 40 percent of Akasa Air and is expecting a no-objection certificate from the Aviation Ministry in the next 15 days. A former senior executive of Delta Air Lines Inc will also be associated with Jhunjhunwala’s Akasa Air.
The prime minister also had a “productive” meeting with Nunzio Quacquarelli, the CEO and Managing Director of QS Quacquarelli Symonds Ltd, and said they talked at length about aspects relating to the education sector.
The meeting comes a day after Rakesh Jhunjhunwala met Prime Minister Narendra Modi on Tuesday.
The Finance Minister Nirmala Sitharaman today met a delegation led by billionaire investor Rakesh Jhunjhunwala in New Delhi, a tweet by the finance minister on micro-blogging website Twitter said.
The meeting comes in the backdrop of the Indian stock market nearing its lifetime highs. The Nifty50 index has risen close to 140 per cent after the crash in March 2020.
Jhunjhunwala has displayed unceasing bullishness on the Indian economy and the stock market as his personal wealth has soared with the domestic stock market. His personal wealth has nearly tripled from the lows of March 2020.
Indormation credits to Economics Times.
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