Home News Invest in India to Grow Rich – Veteran US Investor

Invest in India to Grow Rich – Veteran US Investor

Invest in India to Grow Rich – Veteran US Investor

Legendary hedge fund manager Jim Rogers believes the South Asian nation’s economy is in a good place

US veteran Jim Rogers, who was earlier known as an India skeptic, has taken a surprising turn and praised the country’s growth and the economic policies of the government led by Prime Minister Narendra Modi.

“I would suggest people to look at Indian stocks if they want to be really rich because there are a lot of really smart Indians around the world,” Rogers said in an Conversation with Business Today magazine. “If you find some of those smart Indians, you will make a lot of money and be very rich.”

Rogers also suggested that if Modi ” he opens [Indian] currency and he will open the market,” China, the largest economy in Asia, will have to “Beware of the new India.”

Last week, Rogers said at a conclave organized by the India Today group that India is a va “sweet spot” and has the potential to be “even better in the future.”

“For the first time in my life, I’m beginning to think that they [the Indian government] they’re doing it right” he added.

Rogers’ comments are significant because he sold his stakes in Indian companies in 2015 “Nothing new has come from Modi. In an Conversation to financial daily Mint at the time, he expressed disillusionment with the Modi government’s pace of reforms. “You can’t just invest in hope.”

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His recent remarks come in the backdrop of the IMF describing India as a “the fastest growing economy in the world.” The country’s GDP grew by 8.4% from October to December 2023, the fastest pace in six quarters.

After the numbers came in, the Indian government raised its GDP growth outlook for fiscal 2023-24 from 7.3% to 7.6%. In its latest bulletin, the Reserve Bank of India (RBI) predicts that India will be able to sustain 8% annual GDP growth. The country may become the third largest economy in the world within the next three years.

Raghuram Rajan, former RBI chief, has warned that the biggest mistake India can make is to make “believe the hype” regarding its growth. “We have many more years of hard work ahead of us to make sure the hype is real,” Bloomberg said in a recent interview, adding that education and upskilling the workforce remain areas of concern.

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