Uday Kotak, Managing Director and CEO of Kotak Mahindra Bank, expects the current global pain to remain for the next three-five years, particularly in the United States (US), Europe and Japan. He strongly feels that India has to stop depending on global flows because those economies themselves are in a problem and said that India needs to start relying more on our domestic savings and domestic ability to build our economy.

He sees the Indian market bottoming out when the FII investment in India comes down to a range of 40-60 billion. He estimates the Quarter-on-Quarter GDP at the end of the year to be at 7%-7.5% but sees it slowing down to 6%-6.5% into early next year unless there is a significant stimulus in terms of liquidity and drop in interest rates.