Achi news desk-
Washington: Legendary investor and chairman and CEO of Berkshire Hathaway, Warren Buffett, rejects India. Addressing the company’s annual general meeting on Sunday, the non-daily investor said there are plenty of opportunities in India.
When asked if his company Berkshire was actively looking for opportunities in India, Buffett, without going into details, said there are unexplored or overlooked opportunities and areas in India.
Berkshire Hathaway’s business and investment model focuses on acquiring and managing businesses across multiple industries
“In India, I’m sure there are a lot of opportunities in a place like India, and the question is whether we have any advantage, in terms of insights about those businesses or contacts that would enable certain transactions that participants in India would be especially possible. Want us to participate,” said the non-daily investor.
“I would say that this is something that more vigorous management at Berkshire can continue because we have a reputation now and are known around the world and our Japanese experience has been fascinating. In that respect, then there may be unexplored or unattended opportunities in this area (in India),” he added.
Hinting about a foray into India, he said “it won’t take long for her to look for opportunities in the country.” He added “the new management of Berkshire will decide on investments in India”.
“We’ll see how the next management plays the Berkshire game and luckily you don’t have too much time to wait on that in general,” he said.
Things that painted a bright picture for the Indian economy
Solid GDP growth projections, inflation at manageable levels, political stability at the central government level and substantial monetary policy by the central bank have all contributed to paint a bright picture for the Indian economy in recent quarters.
India’s GDP grew by a whopping 8.4 percent in the October-December quarter of the current fiscal year 2023-24, and the country continued to remain the fastest-growing major economy and is poised to maintain its growth trajectory going forward.
India is expected to remain the fastest growing among major economies in 2024, according to the latest World Economic Outlook of the International Monetary Fund. The International Monetary Fund, in its latest forecast, raised India’s growth projections for 2024 from 6.5% to 6.8%. India’s economy grew by 7.2 percent in 2022-23 and 8.7 percent in 2021-22, respectively.
India’s GDP is currently ranked fifth, after the USA, China, Germany and Japan, and is expected to be third in a few years.
