Billionaire investor Warren Buffett has said there is “untapped” opportunity in the Indian market and that his conglomerate holding company Berkshire Hathaway wants to exploit it “in the future.”
Buffett's remarks came Friday at Berkshire's annual general meeting, where Rajeev Agarwal of Doordarshi Advisors, a U.S.-based hedge fund that invests in Indian stocks, said Berkshire is expanding its business in India, the world's fifth-largest economy. This question was raised when I asked about the possibility of
“That's a very good question. I'm sure there are a lot of opportunities in a country like India,” he said.
“But the question is, do we have any advantages or insights into those operations in India or any connections that would enable a transaction that Berkshire wants to be a part of? “This is something that can be pursued,” he said. – Founder, Chairman and CEO of Berkshire Hathaway.
Buffett, 93, said Berkshire is highly regarded around the world. His experience in Japan was interesting enough, he said.
“There may be unexplored opportunities or untapped opportunities in India…but that may be in the future,” he said of India.
Buffett said the question is whether Berkshire has any advantage in pursuing these opportunities, especially for people who manage other people's money and get paid based on their assets.
During the Q&A session, Buffett answered several questions related to some of the key investment decisions Berkshire Hathaway has made recently.
A decisive reduction in Apple stock was one of the key themes. Buffett made it clear that it has nothing to do with the stock's long-term outlook, and despite the recent economic slowdown, Apple will likely remain one of his biggest holdings.
He also told shareholders that vice chairman Greg Abel and Ajit Jain have proven they are the right people to lead Berkshire after he retires.
First upload date: May 5, 2024 16:44 IST