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India Not Cautious As An Economy: Prashant Jain

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September 30: HDFC Mutual Funds’ Prashant Jain says India has continued to rely on borrowed dollars and gold, which has gone into consumption instead of investment. However, this phase too seems to be over, he says, adding that structurally India is a growth economy and will get capital but we shouldn’t be complacent. “Locals seem to have sold equities to foreign investors and replaced it with gold,” he adds.