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Mr Agarwal thank you as always for your time here on CNBC TV8 and congratulations on this new moal oswal tower that you've inaugurated in Bangalore uh give us a sense of what the significance of your corporate presence here is of course we you know Bangalore is emerging as the Hub of wealth creation but for moal oswal you know what is the significance of this Karnataka headquarters for you so to speak yeah so we have been coming to uh the Bangalore wonderful City you know for last maybe 30 years or so we had some clients here and there but uh finally we are giving we decided that you know this Tower thing makes a difference to us at least for M it makes a difference till about 2012 we didn't have Tower we were all over in N point so there was no kind of a one place what you can call as m m and the moment the Tower came up I think it brought it brought a lot of synergy within the company itself and uh we found it very very useful I mean we could move from one meeting to other meeting so a lot of synergy was there and that got reflected in the client satisfaction client meeting productivity and everything so we said we will we'll take this thing all over so we have decided to go to 10 cities with 10 Towers okay so this is a series this is the first in the series and we thought that Bangalore and Delhi two are the most important hub for M apart from Mumbai so we started with this uh but Delhi I think next week will be finalized amdad and Pune these are two more done so next next one year other two will come up so I think in all we will be done with 8 to 10 Towers across the country across the country so it will be it's a it's a branding but more than branding it is more of a communication with the people that we are here we are we are part of Nama bangaluru types you know we are part of Bangalore you know we are local citizens we are no more uh suitcase Bankers well no more suitcase Bankers we're speaking of the city of Bangalore and the new age you know companies uh what are some of the ones you're bullish on you know zamato is one uh that you've been a proponent of now we have a new entrant that is eyeing the public markets in that space uh you know swiggy uh you know how do you view that yeah so there they're all part of the same what do you call opportunity I would say that uh uh uh that Comm e-commerce or quick Commerce so the quick Commerce is becom bigger than the food Commerce you know so food take they used to call it now it is a quick Commerce and it's a very large opportunity and very difficult to enter and yet I mean very low margins right now but growing like 100% 150% so I think uh zato sorry blinket instamart and zepto I mean these three are the big daddies I think big basket and they're also there so I think uh this space is going to become big it is going to transform I mean not that people are going to consume more fmcg but uh it's just that the way they buy and the life I mean the at is my my household has somewhat changed because of uh this avability in the morning you decide inant you know you want fresh corn flx you know so in 10 minutes that comes or some kind of a bakery want so I think that is changing the entire land and right now it is maybe in Mumbai Bangalore and all but it'll go across the country so I think in next 10 15 years 20 years you'll see the major transformation consumer behavior in terms of uh how you procure your uh kitchen items or household items so so in this food Tech space uh investors so far only have the option of zumata you think swiggy is going to be a good second alternative yeah yeah why not I think they're planning they they're filing for IPOs and all so they should be there next one year they should also be listed see I think whole lot of tech companies all the unlisted companies because markets are so buyant uh that the companies which would have come for public issue maybe after 3 years would come today yeah because the demand and the appetite is so high for even not so right a company you know that uh younger compan younger companies so the companies are saying that okay let's tap the market and and then expand actually even faster and reduce the risk of the going down well for the markets though Mr Agarwal the big big trigger next trigger is going going to be the outcome of the elections what do the markets want to see and if the markets get what they want to see are we going to see a big Rally post the 4th of June see nobody knows see from domestic side definitely you'll get to see the lot of excitement uh depending on what kind of mandate is there uh I mean what see the fun part is that all the people in political Circle I mean the party Big Wigs you know they know the outcome because seeing the exit pole on a daily basis they would have some kind of inkling from their own uh uh what you call exit pole because exit poll is done the day on which the uh voting is done so they have the result but uh uh public it can be done only on for after the last so my sense is the the way they are talking about whatever large number 300 plus 340 350 I think uh they they might be they they almost can see what is going to the outcome so even the betting Market which is much more independent and they don't listen to anybody no nonsense and you can put your bet and that's talking about 310 BJP alone I think if that come number comes at least the event is behind now the continuity of the current regime and the first 100 days and new new set of cabinet and new thought processes even the world is watching more than us world is watching what kind of uh I mean see ultimately it's a large democracy and uh I mean country fastest growing large economy in the world and if there is any disruption here it could spoil the story so you know suddenly the Press becomes skeptical the FI become skeptical I mean to us it doesn't matter so much but to the world it becomes and it's a one of the best stories around so my sense is it's a very well watched not only domestically but internationally election I think it is going to make headlines in all the global uh you know newspapers let's say there is political continuity U what would you watch out for as the big macro themes uh that will play out uh if the Modi government comes to power for the third time see first thing I think it is going more of same the the direction they have set I don't think they have set it for second term and then there is a very different uh of course it becomes bigger see what happens is that every every 78 years economy size is double now double from where say 7 years back economy was 22 trillion so they were getting said 12% of $2 trillion which is about $240 $250 billion of taxes today uh it is a $4 trillion so in $4 trillion bigger economy they get 12% of $4 trillion so that makes it almost half a trillion dollar of uh uh tax revenue which is about say 40 lakhs converted into Indian rupes now in next 5 7even 8 years this four is going to go to eight so government's own Revenue will become a trillion you know so the game the the additional resources in the hands of government will just go to balloon and I'm taking this as a same tax rate okay to the GDP yeah but as the GDP Rises they also have a chance to increase the uh tax to GDP kind of thing so my sense is we are looking at say in 2028 29 which will be their Exit 29 will be exit year that year they would have a trillion dollar tax revenue the Modi government has been promising this 100 day agenda when they come to power some big bang reforms what would you as a market veteran want to see we have long list of but uh I think uh I I I would rather watch you know what they're going to do but uh uh but you know for us Capital Market is very close to our heart yes so I I would I would think uh rather than listening to anybody make make the Capital Market Equity markets debt Market more vibrant uh make it more comp more competitive compared to Gold because here a lot of money is going I believe on the this is one straty I must say uh some one Jeweler told me in that uh there are after the grocery shops second number of shops in India is the gold shops oh wow some 7 lakh gold shops are there they said I said this is crazy at least I should have 7 700,000 mutual fund houses you know you know at is the selling point so I think they have to make yeah so I think they have to they have the the the finance uh what you call finance ministry or whoever is the the they must take it very seriously that the the savings of the country financialization of savings and the every single drop of the saving must be used for productive purposes because India is a country where we can spend H1 trillion and we are still not done
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