We genuinely think India has all the right ingredients to be a five trillion dollar or more economy: Says Brookfield's Anuj Ranjan
Ranjan was speaking at the Mint India Investment Summit 2020
Anuj Ranjan, managing partner and CEO of Middle East and South Asia, Brookfield Asset Management, today said that his company is ready to stay in India for "another 11 years" where it aims to pump more capital in the country.
Speaking at the fireside chat with Sridhar Gorthi of Trilegal at Mint India Investment Summit 2020 in Mumbai, Ranjan said, "We genuinely think India has all the right ingredients to be a five trillion dollar or more economy."
Ranjan also added that they have been here 11 years and they will be here another 11 years, and keep investing and look at opportunities relative limited competition. He also further went on to say, "India is Brookfield's number one market in the world."
Emphasising on Indian market conditions and retail credit, Ranjan suggested that retail credit can be rescaled dramatically in the country.
Highlighting the role of Non-Banking Financial Company, Ranjan said that banks are "critical infrastructure" foir a country and NBFCs do things which banks can't do. He also added that they were well cautious about corporate governance.
Ranjan, during the chat also added that most investors get nervous about 100% transaction or buyout because they are not sure they can run the business as well as a partner can.
During the chat at the summit, he said,"We are not averse to development." He also added, "Demand deferred is not demand destroyed."