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Veteran global investor Jim Rogers, renowned for his expertise in economics and strategic insights, has lauded Prime Minister Narendra Modi's economic policies, describing them as transformative. Speaking to news agency IANS on Thursday, the 82-year-old investor noted a significant shift in India’s economic governance under PM Modi’s leadership, emphasizing that for decades, New Delhi spoke about reforms but lacked commitment.
"You know, for many decades, Delhi has talked about a lot of good things, but they haven't really meant it. I never had the feeling that Delhi understood the economics and understood what should happen. But now, for the first time in my life, I think Delhi understands and they mean it and it's going to get better,” Rogers said while speaking to the news agency.
Highlighting India’s progress, Rogers expressed optimism about the country's future, even hinting at plans to reinvest. "I sold my investments in India too soon. I will invest more in India as the country has a brighter future," he said. Rogers added, “India has realised that prosperity is not bad and success is not bad either. There is a positive change in New Delhi.”
Indian economy continues to grow at an impressive pace despite global challenges. India grew at 8.2 per cent in FY23-24, maintaining its position as the fastest-growing major economy.
The medium-term outlook remains robust, with growth projected at 7 per cent in FY24-25 and strong growth continuing through FY26-27, according to the World Bank's latest India Development Update. The debt-to-GDP ratio is expected to decline from 83.9 per cent in FY23-24 to 82 per cent by FY26-27, driven by fiscal consolidation and strong revenue growth.
A recent report by Motilal Oswal further underscored India's economic transformation. It revealed that $8 trillion has been invested in India over the last decade, accounting for more than half of the $14 trillion total investments since 1947. Projections indicate an additional $8 trillion will be invested in the country over the next five years.
The Reserve Bank of India (RBI) has forecast real GDP growth at 7.2 per cent for FY24-25, while India is expected to lead the G20 countries in economic growth with a projected GDP growth rate of 7 per cent in 2024.
