Prem Watsa: Corruption at highest levels in India has disappeared


Corruption at India’s top level has “disappeared” in the year since Narendra Modi took over as prime minister and this is an encouraging signal for foreign investors, says billionaire investor Prem Watsa. In an interview with ET’s Romit Guha, the ‘Warren Buffet of Canada’ says India is the only country of significant size that he likes in the world, given the economic concerns around the US, Europe and China. Prem Watsa-owned Fairfax India will be making the first of its five to seven planned investments in the country by the end of 2015. Edited excerpts:

Get The Full Series in PDF

Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

How do you view India, its economy, now that the Narendra Modi-led government has completed a year?

India is doing very well. In the year since Prime Minister Modi took over, we believe that corruption at the highest levels has been removed. That push against corruption at the highest level will filter down as we go along. In such a short period of time, that's a phenomenal achievement. We are really excited to be here. Retroactive tax, some of these things, but like they said, they are from the past, but we see a lot of positive change, the biggest so far being the focus on eliminating corruption.

Carlson Capital Thinks The SPAC Boom May Be Over [Q1 Letter]

Black DiamondCarlson Capital's Black Diamond Arbitrage Partners fund added 1.3% net fees in the first quarter of 2021, according to a copy of the firm's March 2021 investor update, which ValueWalk has been able to review. Q1 2021 hedge fund letters, conferences and more At the end of the quarter, merger arbitrage investments represented 89% of Read More

How is India as an investment destination?

There are still concerns in the world. China is having a problem with their domestic economy and the US is still very tepid. The only economy of significant size that we really like is India. But the Indian ..

No posts to display