According to Chokhani, India’s banking system is entering a phase where it can finance global businesses, a shift that once seemed unimaginable.
“Over the next 10 years, many Indian banks will go outward with our businesses. RBI has opened acquisition financing — a space historically dominated by foreign banks. Now, Indian banks can be the capital providers,” he said.
He added that the financial ecosystem’s scale and maturity have expanded drastically.
“Thirty years ago, Capital Group was the largest foreign investor, managing less than $100 billion globally. Today, India itself has mutual funds of that size,” Chokhani said, calling it a “fun and transformative time” for the country’s financial sector.
Wealth creation demands patience, not instant gratification
Chokhani cautioned that wealth and success — whether in business or investing — are built over time, not overnight.“The reality is, you don’t get everything through instant gratification but through delayed gratification,” he noted.“Even companies like Zomato or Lenskart that seem like overnight successes have taken a decade or more of hard work and persistence.”
He cited examples from Enam’s early investments.
“We invested in Lenskart about 10 years ago when it was valued around $100 million. Today, it’s valued in billions. True success takes time,” he said.
Chokhani also compared wealth creation through entrepreneurship and investing:
“The richest stock market investor in India may be worth ₹50,000 crore, but the 125th largest promoter is worth even more. Building a business often creates more wealth than trading stocks.”
India must think global, not stay a “frog in the well”
Chokhani emphasized that for India to close the gap with global giants like the US and China, it must expand its footprint globally — both in business and intellectual property.
“If we remain content being 3–4% of global GDP and market cap, we’ll stay distant from the top,” he said.
“To close the gap between a $4 trillion and a $20 trillion economy, we must build global brands, IP, and innovation.”
He pointed out that globalization doesn’t only mean selling to the US.
“Indian two-wheeler companies sell across Latin America and Africa — that’s global presence. Similarly, brands like Titan, Dabur, and Indian Hotels can go global,” he said.
India has the talent; needs ecosystems to scale
Chokhani highlighted that India’s challenge is not talent but execution speed and ease of doing business.
“Our bureaucracy still slows things down. But when Indians go abroad, they become CEOs of Google and Microsoft. The talent exists — the ecosystem needs to evolve.”
He advocated for deeper collaboration between defence, automobile, and universities to accelerate innovation.
“Most technology progress globally has come from a triad of defence, auto, and academia working together. India is moving in that direction now,” he said.
How retail investors should go global and stay grounded
Chokhani also shared a roadmap for retail investors seeking to diversify globally while maintaining a disciplined investment strategy.
“Play to your strengths. If you understand cricket, don’t try to play soccer. Let professional fund managers manage your money — they have proven track records,” he advised.
He pointed to India’s strong lineup of fund managers and said retail investors shouldn’t try to outguess them.
“Hire talent like Chirag Setalvad, Navneet Munot, Naren, Pankaj Tibrewal — all for under 1% management cost. You don’t need to beat them,” he said.
On asset allocation, Chokhani emphasized balance between “fear trades” and “hope trades.”
“Real estate and gold are fear trades — you park money there to avoid loss. Equities are hope trades — you invest there to grow wealth,” he explained.
“If you maintain the right mix, have 5–7% cash for opportunities, and two years’ expenses set aside, you’ll never be forced out of markets in panic.”
The big picture: India’s decade of globalization
Manish Chokhani believes India is entering its most exciting phase yet — where domestic strength meets global ambition.
“The next decade will see Indian banks, entrepreneurs, and brands going global,” he said.
“It’s not about being content with what we have, but about aspiring to build world-class companies from India.”
He concluded by reiterating that India’s growth story will reward patience and long-term conviction.
“The future belongs to those who stay invested — not just financially, but mentally — in India’s growth journey.”