The legendary investor Warren Buffet spoke about India and investing in the country. Speaking to a popular electronic media channel, the investor advised the investors to pay attention to business and not just market.
Speaking about opportunities in India, he said that the scope is too big to ignore and must be considered wisely. He gave five bullet points as to why India is the best place to invest.
1. The Indian Opportunity:
Warren Buffet said that Indian market is enormous and provides an opportunity to anyone who would like to invest. He also said that if there was a good value company for sale, he would be in India investing in that.
2. Future Generations:
Buffet said that India will have a better life for the future generations than the present one. He said, “India has a terrific future due to the brain power it has.” He also mentioned IITs and recalled Bill Gates words, where he said that he would hire engineers only from IIT.
3. Indian Hospitality:
The investor also spoke about how India’s hospitality amazed him. He recalled his last visit to the country, which he said, had left him amazed.
4. About Ajit Jain:
Addressing the 53rd annual general meeting of Berkshire Hathaway, he said, “Nobody would possibly replace Ajit Jain if he were to leave or retire. There are things which only he can do. But we have a terrific team, a lot of things are institutionalized in this business. Ajit Jain made more money for Berkshire than I have probably.”
5. Per Capita:
He spoke about the history of Indian economy and how he has no doubt that Indian per capita will increase at very high rate.
The reports also suggest that the per capita is expected to increase from Rs. 1. 06 lakhs in 2015-16 fiscal year to Rs. 3.14 lakhs in 2031-32.
