Veteran investor Ramesh Damani, with over 30 years of market experience, remains steadfast in his optimism: “The best is yet to come.” Influenced by mentors like R.K. Damani and the late Rakesh Jhunjhunwala, he believes India’s economic story is still unfolding—with power.

When he returned to India in the late 1980s, cement stocks were booming. But it was the tech wave that marked his first big win. Since then, Damani has studied every bull cycle, always searching for the narrative and its leaders. “This time,” he says, “it may belong to India’s rising middle class.”

Referencing The Middle Class by Homi Kharas, he notes that this group, now numbering in the billions globally, has found a new home in India. As India’s GDP rises and average income crosses $2,500, middle-class Indians are spending, saving, and investing—with demat accounts exploding.

Volatility aside, Damani is unshaken. “Risk is not a 2,000-point drop—it’s losing money.” He believes India’s growth pillars—population, digital rails, democracy—remain unmatched. Even public sector units (PSUs), once overlooked, have delivered solid returns under government reforms.

Today, Damani is nearly all-in. “I used to hold back 10% in cash. Not this time.” He highlights how even the Prime Minister has spoken encouragingly about the market—something he views as a cultural shift.

On market missteps, Damani echoes Charlie Munger’s wisdom: “Corrections happen. But great businesses endure.” And India, he insists, is filled with them—from BPO giants to digital corridors like IMEC.

His advice to young Indians is clear: “You won’t build wealth in gold or crypto. The stock market is where your future lies.” In 1991, the Sensex was at 1,500. Now, it flirts with ₹75,000.

With half a billion Indians projected to join the middle class by 2030, Damani sees the next few decades as India’s to own. “Other nations are aging. India is just getting started.”