Mar 26, 2024 02:59 PM IST
In 2015, Jim Rogers sold his holdings in Indian companies saying he was “not sure of India’s economic recovery and performance”. So what changed for him?
Veteran American investor Jim Rogers is now ‘advocating’ everyone to invest in India to become rich. In a chat with Business Today, he said, “I would suggest people look at Indian equities if they want to be rich because there are lots of really smart Indians all over the world. If you can find some of those smart Indians you are going to make a lot of money.”
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When Jim Rogers had exited India in 2015
In 2015, Jim Rogers sold his holdings in Indian companies and exited India saying he was “not sure of India’s economic recovery and performance”. He had then blamed lack of reforms in the country and said, “I did sell my India shares as I don’t see anything happening. The market was high, and investors had anticipated great things, including me-even if he (PM Modi) were to do things, the market had already discounted some of that because it had gone up a lot…You can’t just invest on hope.”
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What advice did Jim Rogers give on Indian markets?
But now the ace investor said, “Let Americans buy bond, you buy equities”, asserting that India is in a sweet spot and has even more potential to be “even better in the future’ if the government can keep delivering on its promises. For the first time in my life, I am beginning to think that they (the Indian government) are getting it right.”
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He added, “And maybe, things are going to change, so India’s going to be even better in the future than it is now. So if Mr. Modi does what he says he is going to do, wow, India is going to be even more astonishing than it is now.”
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