MUMBAI: Benchmark Nifty can hit 1,25,000 by 2030 as company earnings are expected to grow 16% annually, according to investor Rakesh Jhunjhunwala This target is almost 13 times the index’s close of 8,537.65 on Tuesday.Jhunjhunwala told a news channel that the Nifty has grown 10 times in the last 15 years and can jump 10-12 times in the next decade. “With the outlook for India, which is much better for the next 10 years than the growth in the past 10 years, and with increasing investor participation, don’t you think the next 10 years should not be 10 but 15 times Nifty?” the investor told the channel, declining to give a target for 2015.He said the market will be surprised by the country’s growth in the coming years with Narendra Modi at its helm.“Modi is an instrument. He is an instrument of change; he is not the change. The most remarkable thing of his first 180 days is that he has decided to do things at a measure and pace which is possible,” said Jhunjhunwala. “The pace of change which he is bringing about is the one which the country and the situation and circumstances can absorb,” he said.He said the government’s Swachh Bharat programme is the best investment this country can make. “It is five times more dividend than spending on health. So, you have to look at the completeness of the picture,” he said.Jhunjhunwala said a year later, Reserve Bank of India governor Raghuram Rajan will regret not having cut rates in the policy review meeting on December 2. “This is because inflation will be 4% in India next year. We have had an unprecedented fall in oil prices,” he said. “The worst is behind us and now we are importing 7% of gross domestic product as commodities. That benefit is yet to percolate down,” he said.