New Delhi: Bridgewater Associates founder Ray Dalio said Prime Minister Narendra Modi reminds him of President Deng Xiaoping when he visited China 40 years ago. Dalio, considered to be an investment guru and a thought leader, said Modi is for India what Xiaoping was for China.
Dalio said that if he was 40 years younger, he would try to understand India better and invest in the country to fuel its growth. He said he did something similar for China 40 years ago. He agreed that India was poised for growth and added for the country to miss this opportunity it will have to squander it in a massive way.
Why India’s neutrality is its biggest asset
Dalio mentioned that India was uniquely positioned between China and the US. This endowed the South Asian giant with “a great potential strategic advantage”. He said India’s neutrality places it in an opportune position, a fact corroborated by history. The ability to deal with both sides can be capitalised on and enables India to do something that both sides were incapable of doing, said Dalio in an interview with Fortune India.
Low debt should not mean ‘anti-debt’
Talking about India’s low debt burden, Dalio said that this provides room for the developing country to borrow more money for asset creation. He cautioned India against having an “anti-debt mentality”. However, a pro-debt mentality that uses funds in uneconomic ways is also advised against, added the investment guru. He said it comes down to the country’s leadership as to which path the country will take and what it will do with debt.
Focus on education, not manufacturing
Dalio was not too excited about India’s prospects of competing with China on manufacturing. He called it “a fool’s journey”. He advised India to focus on improving education and productivity at the domestic level and harnessing its intellectual resources to compete at the international level.
Investment Guru Ray Dalio likened Prime minister Narendra Modi with former Chinese president Deng Xiaoping, adding that india was standing where China was 40 years ago. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
