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Big bull Rakesh Jhunjhunwala on Friday advised a British investor to "invest in Pakistan" if he has doubts over the joblessness in the country.
The remark came as a retort to repeated questioning by a London-based investor at the World Hindu Economic Forum on the rising joblessness here.
In defence, officials say the data do not capture the gig economy and other self-employed jobs.
"Don't come if you don't want to (invest in India)...you go to Pakistan", an irate Jhunjhuwala said, when the investor persisted with his queries during a panel discussion in which the big bull participated.
The duel started when Jhunjhunwala interjected to a question by the British investor on employment, countering it with a claim that if joblessness is so prevalent, it will not be so difficult to find a driver in the financial capital.
The investor drew Jhunjhunwala's attention to the India beyond Mumbai, and pointed out that in the last decade, we have had strong growth but despite that, unemployment rose.
At one point, Jhunjhunwala asked the man to stop, forcing him to assert his right to ask questions which bothers him as an investor.
He said after steeply cutting corporate tax, foreign money is bound to flow in and stressed that he is bullish on the country not because he is patriotic but because it makes sense as an investor.
He also said the yield-chasing investors, who have to contend with negative rates in the West, will have to come to India.
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