A host of market stalwarts from Jim Rogers, Marc Faber and Howard Marks have been pointing towards India’s growth story. Latest to join the bandwagon of experts bullish on the country’s prospects is Timothy Wong, the Managing Director and Head-Group research at DBS Bank. In conversation with CNBC TV18 he said,” India has come through nicely in terms of longer term structural reforms. The Indian market looks interesting from a long-term perspective.”
The expert points out to the strengths of the country such as a young population. “As long as the long-term reforms continue, given young demographics, and positive structural growth drivers, people will be interested in India,” he said.
On Monday, Howard Marks, the Co-Chairman of Oaktree Capital told ET Now, “I made my first trip to India in February and I was very impressed by the people I met and by the power of the country. And I am a great believer in India’s future.”
Marc Faber reposed his faith in India’s Prime Minister Narendra Modi and predicted that he would be re-elected in 2019 on the back of the development agenda. Earlier last month, in an interview with CNBC TV18, renowned investor Marc Faber — the author of Gloom, Boom & Doom report — had reinforced his preference for investing in India over the US on the back of a strong government led by Prime Minister Narendra Modi, whom he had referred to as “a leader (who) is gradually implementing reforms against the opposition from vested interests and corrupt government officials”.
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.