After benchmark indices Sensex and Nifty nosedived on Friday, mirroring the bearish mood in world markets, Vikas Khemani, founder of Carnelian Capital Advisors said India is in the middle of a structural bull market.

"I think we are in the middle of a structural bull market, the party has just begun. I think we are just into a couple of quarters of economic recovery and this economic recovery is likely to sustain over the next 3-5 years. So, this kind of confluence of a lot of economic drivers rarely happen in a life of a country and I think we are at that juncture," he said in an interview to CNBC-TV18.

He believes India is a structural growth story and its market cap can be between $5-6 trillion in next 4-5 years.

"Every bull market would have corrections and they would be sharp and short lived. They will never be sustained corrections. Hence if you are a believer which at least I am that India is a structural growth story, lots of money to be made. India’s market cap can be between $5-6 trillion in next 4-5 years’ time. If that is the kind of potential waiting to happen, then there’s a long way to go. Hence every dip should be used as an opportunity to buy," he said.

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(Edited by : Jomy Pullokaran)