Buffet needs to take a fresh look at India: Experts
During PM Modi rule, India became 5th largest economy with $3.7-trn GDP from 10th largest economy with $1.9-trn GDP; India is on a way to become a $5-trn GDP due to 10 years of reforms: FinMin
image for illustrative purpose
New Delhi: Unaware of the possibilities India now provides for global investors and big conglomerates, Warren Buffett, Chairman and CEO of global investment major Berkshire Hathaway, needs to have a fresh look at a country which is set to become the third-largest economy in the world with a GDP of $5 trillion.
In the last 10 years, under the visionary leadership of Prime Minister Narendra Modi, the country has progressed well across all economic parameters and is now the fifth-largest nation with a GDP of around $3.7 trillion (estimate FY24).
A decade ago, the country was the 10th largest economy, with a GDP of $1.9 trillion (current market prices). According to the Finance Ministry, “this 10-year journey is marked by several reforms, both substantive and incremental, which have significantly contributed to the country’s economic progress.”
At the company’s annual meeting on Sunday, Buffett said they could explore the untapped potential in India as “there may be areas unexplored or unattended to opportunities. In India, I am sure that there are loads of opportunities and the question is do we have any advantage, in either insight into those businesses or contacts that will make possible for some transactions that participants in India would particularly want us to participate”.
As Buffett looks for a possible entry into the country, India’s GDP growth is set to attain a new peak, sectors like manufacturing and automobiles have started looking up again, and the GST collections are gaining new highs.
