Ace investor Rakesh Jhunjhunwala does not believe that there are reasons to worry about India's economic growth and asked sceptical investors to stay away from investing in the country.

Speaking as part of the panel at the World Hindu Economic Forum 2019 on September 27, Jhunjhunwala discussed capital market investment, asset allocation and India’s economic prospects.

However, the discussion took an unpleasant turn as Jhunjhunwala fiercely countered concerns about unemployment raised by fellow panellist and former London Chamber of Commerce Chairman Subhash Thakrar.

The verbal spat began as Thakrar raised the subject of unemployment when Jhunjhunwala was talking about why he believes investors will come to India.

Jhunjhunwala responded to Thakrar by saying that the issue of unemployment has been blown out of proportion as the actual problem is that today’s youth only look for white-collared jobs.

"Strong growth will do the job of creating jobs for the Indian economy," Jhunjhunwala argued.

Countering this point, Thakrar pointed out that despite a healthy pace of growth for 10 years, India is still facing a problem on the jobs front. He said India has been skilling its youth but has not found a solution for creating new jobs in the country.

Jhunjhunwala continued with his arguments and said sceptical foreign investors having issues with India’s growth story should not invest in the country. He even went on to advise Subhash Thakrar to open a new fund for investing in Pakistan instead.

"Go and invest in Pakistan. We do not want foreign investors like you. The government is facilitating investment in the country," Jhunjhunwala said.

Jhunjhunwala later apologised to Thakrar for the tone of the argument.