Just days after Ratan Tata, the Chairman Emeritus of Tata Sons reposed his faith in the current Prime Minister Narendra Modi to deliver a ‘New India,’ the legendary emerging markets investor Mark Mobius says that the Indian Prime Minister is doing very well. In a recent interview to Bloomberg, he said, “ I think he’s (Narendra Modi) doing very well in the face of terrific odds. Let’s face it, it’s not easy. You have all these states with individual parliaments, who don’t agree on one thing or the other.” Speaking about GST, he said, “ Just to get the tax reform through was quite an announcement.”
Pointing to the way ahead, the Executive Chairman, Templeton Emerging Markets Group, said that India must look at privatisation of state owned-enterprises. Further, the emerging markets champion sees a lot of steam in the consumer discretionary space in India. “Top picks would be consumer, and what’s happening in the internet space, because, with Reliance at $25, and with 4G accessible to 400-500 million people, it’s going to be an incredible boom in every direction. We have to watch out very carefully,” he said.
Earlier in June, the expert said that India must make it easier to invest capital into the country not only for foreigners but for domestic investors as well. “Bureaucratic hurdles are still quite significant in India. Even with bureaucratic barriers, we believe India remains a very attractive destination for investors,” said in a blog post.
Last month. Marc Faber, another top voice in the markets, told ET Now that he expects India’s Prime Minister Narendra Modi to be re-elected in 2019 on the back of the development agenda.
Jim Rogers had also expressed his regret about not having been invested in India. Instilling faith in PM Narendra Modi and his policies, Commodities Guru Jim Rogers said that he should have been more patient and waited for Modi’s plan to play out before selling his positions in 2015. In April this year he said,“If Modi continues doing stuff like GST, then not just me, everybody has to pay a lot more attention to India.” He also lauded Modi for passing the crucial GST. “On GST, I am amazed, shocked and stunned,” he told Livemint.