Corporate earnings will revive in second half of FY18: Nirmal Jain

Slowdown for a quarter or two is a small price to pay for the radical reforms implemented, says IIFL chairman Nirmal Jain

Amid rising worry over slowing economic growth, Nirmal Jain, chairman of IIFL, the financial services group, tells Rajesh Bhayani that slowdown for a quarter or two is a small price to pay for the radical reforms implemented, as these would have a strongly positive impact on economic growth over the next five to 10 years. Edited excerpts:
 
The economy seems to have slowed with demonetisation and the goods & services tax (GST). How do you justify the high share valuations?
 
There is a lot of noise about economic slowdown caused by GST and demonetisation. No doubt, there is