Billionaire Ray Dalio hails India as the next big investing opportunity, saying its economy is on the verge of a China-style rapid surge
- Ray Dalio praised India's economic potential Thursday after meeting with the country's prime minister Narendra Modi.
- The Asian country is "at the brink of the fastest growth rates and biggest transformations in the world," the billionaire investor said.
Ray Dalio heralded India as the next big investing opportunity Thursday, saying that the country was primed for massive growth that would echo China's economic transformation in the 1980s.
The Bridgewater Associates founder re-tweeted a photo of himself with prime minister Narendra Modi, adding that worsening tensions between Washington and Beijing would only strengthen the position of the world's fifth-largest economy.
"I am pleased to be able to help PM Modi as he is a man whose time has come when India's time has also come," Dalio said. "He and India are in an analogous position to Deng Xiaoping and China in the early 1980s – i.e., at the brink of the fastest growth rates and biggest transformations in the world."
"The challenges both between and within China and the US are putting PM Modi in a unique position to influence the complexion of the world order via influencing the non-aligned world's dealings with these two leading world powers," the billionaire investor added.
Dalio's praise of Modi comes the same week that Tesla CEO and Twitter owner Elon Musk met with the prime minister.
The billionaire tech boss pledged to ramp up his EV maker's presence in India "as soon as humanly possible" and called himself a fan of the country's leader.
Legendary investor Mark Mobius also said he was bullish on investing in India – which logged strong GDP growth of 7.2% last year – this week.
"To me, India is the real future," the Mobius Capital Partners founder, whose known in investment circles for his high-profile bets on Chinese assets, told Bloomberg Tuesday. Mobius, the cofounder of Mobius Capital Partners, told Bloomberg Tuesday.
"Of course, the market has done very well and we're near the top of the recent past, but nevertheless we are finding big bargains in wonderful companies," Mobius added.