Rakesh Jhunjhunwala led delegation meets up with Finance Minister Nirmala Sitharaman

The news of their gathering was shared by Nirmala Sitharaman’s office on social media platforms.

A delegation led by veteran Indian stock trader Rakesh Jhunjhunwala met up with Union Finance Minister Nirmala Sitharaman at her office in New Delhi on Wednesday, October 6. 

The delegation accounted for two members; Utpal Sheth, the chief executive officer of Rare Enterprise, an asset management firm of Rakesh Jhunjhunwala, and Amit Goela, a partner at Rare Enterprise, who accompanied Jhunjhunwala to the meeting with the finance minister.

The news of their gathering was shared by Sitharaman’s office which tweeted, “Delegation led by Shri Rakesh Jhunjhunwala calls on Smt @nsitharaman,” sharing pictures from their talks. 

Often referred to as the Warren Buffett of India, Rakesh Jhunjhunwala also met up with Prime Minister Narendra Modi on Tuesday, October 5, where he was accompanied by his wife Rekha Jhunjhunwala. 

Prime Minister Modi posted about the visit on social media platforms, praising Jhunjhunwala for his optimistic vision for India. “Delighted to meet the one and only Rakesh Jhunjhunwala…lively, insightful and very bullish on India,” he wrote in the post.

The Prime Minister’s remarks on the ace investor’s insight of India’s market comes in light of the comments made by Rakesh Jhunjhunwala in a Television interview urging retail investors in India to make investments in the domestic market and have confidence in India’s economic potential. 

“Please don’t invest in the U.S. when the food at home is so good, why eat outside? Believe in India. Invest my fellow Indians and prosper,” He said in an interview with CNBC-TV18 in June earlier this year.

Rakesh Jhunjhunwala is one of the most prominent stock traders and investors in India. He manages his own portfolio as a partner in his asset management firm Rare Enterprise and is the 48th richest man in the country, according to Forbes, with the current estimated net worth of $5.7 billion.

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