“It is pertinent that nowadays a lot of the action is happening outside the public markets.
We were speaking earlier that the private equity industry itself has put four times the money that foreign institutional investors (FIIs) have put into India this year. Even in the US, the last big tech IPO was Facebook and Alibaba and all the other, USD 250 billion of unicorns as they call them are outside the public markets.
So, that change is still occurring and it is that disruptive phase for economies in the world which the markets will gradually get to see as these companies come into the market. So, I am not as despondent about the lack of revival in the economy because it is happening outside the public space. “-said Manish Chokani