Veteran global investor Jim Rogers praised Prime Minister Narendra Modi’s economic policies, saying India is on track to become a developed nation by 2047. In an interview with IANS on Thursday, the 82-year-old investor highlighted the significant changes in India’s economic landscape under PM Modi’s leadership.
Rogers noted that for decades, previous central governments in India made many promises without meaningful action. He said, “For the first time in my life, I think Delhi understands and they mean it.” Rogers believes India’s leadership now truly understands the economic challenges and is actively addressing them.
India has seen a surge in economic activity, with $8 trillion invested in the last decade, according to a Motilal Oswal report. This investment accounts for more than half of the $14 trillion invested since 1947. Projections show India will invest another $8 trillion in the next five years.
India is set to be the fastest-growing economy in the G20, with a projected GDP growth rate of 7 percent for 2024. The Reserve Bank of India (RBI) forecasts a 7.2 percent real GDP growth for FY 2024-25.
Rogers observed a shift in India’s attitude toward prosperity. He said, “Prosperity is not bad, and success is not bad either.” Rogers admitted to selling his investments in India too soon but now plans to reinvest. He believes India’s future is much brighter.
India’s economic progress continues as 25 crore people have been lifted out of poverty. Domestic consumption and investment are both growing. Jim Rogers’ positive outlook reflects global confidence in India’s continued growth.
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