Jim Rogers bullish on India, advises investing in Indian equities to be rich

“If you want to be rich, own equities. 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,” Rogers said in a chat with Business Today.

“Let the Americans buy the bonds, you buy the equities,” Rogers added.

Rogers wants Prime Minister Narendra Modi to open up Indian currency and markets more.

“If India opens up and if Modi does what he says he is going to do and make it good to be in business and he opens the currency and he opens the markets, China will have to watch out for the new India,” said Rogers.

Rogers said Modi wants India to become a manufacturing hub. He thinks India has smart people. For a long time, smart Indians left India and went to other countries, but now it looks like they’re staying. So if Modi lets India open up more, and if smart Indians stay and help India do well, India could become one of the best economies in the world.

Also Read: Buckle up for more volatility: UTI’s Vetri Subramaniam

The outlook of the Indian economy remains robust despite global headwinds.

According to the finance ministry’s monthly economic review for February 2024, India’s economic growth outlook for the coming financial year (FY25) looks bright due to strong growth and robust fundamentals, despite headwinds such as hardening crude oil prices and the global supply chain bottlenecks.

Also Read: India’s FY25 growth outlook looks bright, core inflation on downtrend, says FinMin: 5 key highlights

Meanwhile, India topped Mint’s Emerging Markets Tracker yet again in February on the back of strong GDP growth, PMI reading and a recovery in export growth. Stock market performance was also one of the strongest among emerging market (EM) peers.

Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators. With a composite score of 83, India topped the EM league table in February. The Philippines and Brazil were second and third, respectively.

Also Read: India rules at top again among EM peers on strong GDP, stock market performance

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 26 Mar 2024, 09:02 AM IST