On the back of the faster recovery and strong credentials, the domestic bourses are heading towards a multi-decade bull market, billionaire investor Rakesh Jhunjhunwala today said.
"India's resilience (during the global financial crisis) has been recognised internationally... In my view, India may be beginning to see a multi-decade bull market," Jhunjhunwala said at a seminar organised by the Indian Institute of Foreign Trade here today.
With the onset of the financial crisis, the centre of the global economy is shifting from the West towards the emerging economies in the East, which may temporarily destabilise the emerging economies, he pointed out.
Investors should look for long-term growth prospects and growth-drivers of companies where they invest, rather than getting carried away by short-term apprehensions, he added.
The choice of asset class and the risk-taking ability of individual investors could also prove decisive in managing investments, he noted.
"You need to look at whether the organisation has the ability to scale...It is important to understand the factors driving growth," he said.