American financial guru claims investment in India makes you wealthy

(MENAFN) Veteran American investor Jim Rogers, previously known for his skepticism towards India, has taken a surprising turn, expressing confidence in the country's growth trajectory and the economic policies of Prime Minister Narendra Modi's government. In an interview with Business Today magazine, Rogers advised investors to consider Indian equities as a means to achieve significant wealth, citing the intelligence and entrepreneurship of the Indian population as key factors driving potential returns.

Rogers highlighted the potential of India's economy, suggesting that if Modi continues to liberalize the currency and market, China, currently Asia's largest economy, may face competition from the emerging Indian market. Speaking at a conclave organized by the India Today group, Rogers emphasized that India is in a "sweet spot" and has the potential to further improve its economic prospects.

This shift in perspective is noteworthy considering Rogers' previous divestment from Indian companies in 2015, citing a lack of substantial developments under Modi's leadership. However, he now appears optimistic about the direction of India's reforms, stating that he is beginning to believe that the Indian government is "getting it right."

Rogers' endorsement of Indian investments coincides with the International Monetary Fund (IMF) recognizing India as the "fastest-growing economy in the world." India's GDP growth of 8.4 percent in the last quarter of 2023, marking the fastest expansion in six quarters, further underscores the country's economic momentum.

As Rogers' sentiments align with India's favorable economic indicators, his endorsement may influence global investor sentiment towards India, potentially attracting increased investment flows into the country's markets.

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