Madhusudan Kela of Reliance Captial says,”There is no better time for an average investor to do well in India.” (Image:Reuters)

While the meteoric rise in domestic indices may be worrisome for some investors, top market voices remain upbeat on India’s growth prospects. Speaking to ET Now yesterday, Madhusudan Kela, the chief investment strategist at Reliance Capital said,”There is no better time for an average investor to do well in India.” He predicts that the Indian economy will top $5 trillion by 2025. To put that into perspective, the economy will more than double in less than 8 years! At the end of 2016, India’s GDP stood at $2.26 trillion.

He’s not the only one betting big on the Indian growth story. Kotak Mutual Fund’s Nilesh Shah called out to the investors to reap-in 15-20% returns from the market. Speaking to the channel, he said,”We want India to be owned by Indians. We want retail Indians to be sitting on 15-20% roller coaster, even though the ride is scary and volatile. Because if you stay back, in the end it will be a pleasant ride.”

A Balasubramanian, the CEO of Birla Sun Life Mutual Fund said that in a large country like India, the impact of structural changes will take time to fructify. He says that India can become a leader in the global economy in the next 5 years. However, he points out that it is imperative to “put trust on the table.” In conversation with ET Now, he said, “Every citizen of the country must show conviction and faith that we will do things right.”

Investment stalwarts from around the world are talking highly of India’s growth story. Howard Marks, the Co-Chairman of Oaktree Capital, told ET Now last week, “I made my first trip to India in February and I was very impressed by the people I met and by the power of the country. And I am a great believer in India’s future.”

Earlier this month, Marc Faber reposed his faith in India’s Prime Minister Narendra Modi and predicted that he would be re-elected in 2019 on the back of the development agenda. Previously, in an interview with CNBC TV18, renowned investor Marc Faber — the author of Gloom, Boom & Doom report — had reinforced his preference for investing in India over the US on the back of a strong government led by Prime Minister Narendra Modi, whom he had referred to as “a leader (who) is gradually implementing reforms against the opposition from vested interests and corrupt government officials.”