The parallel economy in India often gets a bad name. But the veteran investor and the founder of GQUANTICECH Chankar Sharma says the time has come to look at it in a different way.
Speaking to podcasts with Rishi Sangafi, Sharma said, “I love it. It is great.”
region? It is a buffer during disturbance.
“It remains standing on his feet. It is the way that India escalates most of the global economic crises than others – because the parallel economy does not decrease as much as the real economy,” said Sharma.
He explained that although the official economy may develop during the decline, the unaccounted wealth-in the form of gold, criticism or real estate-helps families to absorb shocks.
“Let’s say that the white economy … people enjoy the gold that is missing for it, and people have unaccounted money, and people have real estate outside the books – this is far from the eyes of the bank or the government. So if there is a lollipop, disasters occur – you have something that is not retreating.
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“I know he seems heresy to say that, but he helped us in the past and think he will continue to help us in the future.”
About if the digitization had made Dent in this parallel system, Sharma was clear: “No. I know that the notes traded are much higher than in 2016. So in India, you cannot do without it.
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