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Mumbai: Recession is the best time to be an investor and an entrepreneur, venture capitalist and Silicon Valley tycoon Kanwal Rekhi said.
"Recession is absolutely required, for resources will be freed up. Entrepreneurship thrives during recession. It is the best time to be an investor and the best time to be an entrepreneur because valuations are lower," Rekhi, who is the Managing Director of Inventus Capital, told reporters at the Entrepreneurship Summit organised by IIT here.
The US-based former IIT-B alumnus said recession creates a set of good values and discipline.
Disapproving bailout packages to boost economies, Rekhi said, "I don't believe in bailouts...I would much rather let them die."
He said history has shown that bailouts are generally not successful. "How many jobs do the bailout packages create?" he asked.
The Government should, instead, invest more in primary education, primary healthcare and primary infrastructure, he said.
"They (the Government) only show that they care. They should have set up 50 more IITs instead," he said.
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