Berkshire Hathaway Chairman Warren Buffett.
Credit: Reuters Photo
By Preeti Singh
Billionaire investor Warren Buffett said there are “loads of opportunities” in India, but he’s leaving them to future management.
At Berkshire Hathaway Inc’s annual meeting, the legendary chairman noted that his firm could find “unexplored or unattended” areas to invest in the country, which has one of the fastest growing economies in the world.
“The question is do we have any advantage, in either insights into those businesses or contacts that will make possible some transaction that parties in India would particularly want us to participate,” Buffett said.
He added that Berkshire is now known around the world and that its experience investing in Japanese markets has been “fascinating.”
India’s stock market has delivered high returns for investors in recent years, and major figures like JPMorgan Chase & Co Chief Executive Officer Jamie Dimon have expressed optimism about the country’s future. Global private equity firms have also ramped up their investments in India, as wealth managers boost their talent pool there.
Berkshire Hathaway was previously invested in India’s One 97 Communications Ltd, which owns the payments company Paytm, but exited it through a $164 million block deal last year.
For future investments in India, Buffett said that it’s “something that more energetic management at Berkshire could pursue.”