Berkshire Hathaway bullish on India? Warren Buffett hails ‘unexplored opportunities’, says ‘next management may…’
Berkshire Hathaway’s annual meeting is one of the most insightful events in the financial world, and while addressing his shareholders on Sunday, CEO Warren Buffett spoke about the ‘unexplored opportunities’ in India and said the next management will decide on investments in the Asian country.
Warren Buffett addresses the meeting every year and shares many insights about the company’s future plans, including specific investments, corporate governance, the economy, etc.
Rajeev Agarwal of DoorDarshi Advisors asked Warren Buffett if Berkshire Hathaway is actively seeking opportunities in India. The nonagenarian investor responded with a description of the ‘loads of opportunities’ India has but left it to future management to decide.
“In India, I am sure that there are loads of opportunities in a place like India, 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,” Warren Buffett said Berkshire Hathaway’s annual meeting.
“I would say that’s something that more energetic management at Berkshire could pursue because we do have a reputation now and are known around the world, and our Japanese experience has been fascinating. In that respect, there may be unexplored or unattended opportunities and areas (in India),” the legendary investor added.
“We will see how the next management plays the game out at Berkshire, and fortunately, you don’t have too long to wait on that generally,” he said.
India’s ‘attractive’ rise
In the past few years, the Indian economy has displayed resilience despite significant health and geopolitical disruptions. India continues to remain the fastest-growing economy in the world, with a massive 8.4% GDP growth during the October-December quarter.
This robust economic growth, coupled with the government’s focus on economic reforms and the country’s large consumer market, could present attractive investment opportunities for Berkshire Hathaway and other global companies.
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Published: 05 May 2024, 03:30 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.