Taxation is not as crucial as the fact that we are in a high-growth era that will continue to be the real source of investment returns

The biggest input in the money that you and I make in the markets is not our supposed genius as investors, but what I call the ‘India tailwind’. We have made money not because we are great, or even good, investors, but because the Indian equity markets are up 3-4x in 10 years. I’m thankful to be living in a highgrowth, well-run economy, rather than a no-gain, no-tax one.