Rakesh Jhunjhunwala
Rakesh Jhunjhunwala
CNBC

Billionaire stock market investor and trader Rakesh Jhunjhunwala strongly believes that India will not have to face the third wave of COVID-19. He stated this during an interview that the market would not have to be worried about a slowdown due to the third wave.

During an interview with CNBC TV18, Jhunjhunwala, Partner and CEO Rare Enterprises said, “No one predicted the two wave and now, everyone is ready to predict the third wave. The pace at which vaccination is going and at the rate at which we are getting herd immunity, I see no reason that there should be a third wave.”

As of India’s cumulative vaccination coverage has exceeded 28 crores on June 20, 2020. A total of 28,00,36,898 vaccine doses have been administered through 38,24,408 sessions, as per the provisional report till 7 am of June 21. 30.39 lakh vaccine doses were administered in the last 24 hours.

Meanwhile, more than 29.35 crore (29,35,04,820) vaccine doses have been provided to States/UTs so far, through Government of India (free of cost channel) and through direct state procurement category.

Jhunjhunwala, however, stated that even though there will be no major impact, some corrections can be expected. “Wave or no wave, Indian economy is much better prepared to face any kind of crisis. And I for sure will bet my money that there is going to be no third wave. All the smart people on social media are predicting the third wave and we are all getting fearful of it. We should maintain caution and take all care, but I do not think there is going to be a third wave…” He added that the market has discounted it and will take its own turn.

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