Veteran American investor Jim Rogers is now ‘advocating’ everybody to put money into India to turn into wealthy. In a chat with Business Today, he stated, “I would suggest people look at Indian equities if they want to be rich because there are lots of really smart Indians all over the world. If you can find some of those smart Indians you are going to make a lot of money.”

When Jim Rogers had exited India in 2015

In 2015, Jim Rogers offered his holdings in Indian firms and exited India saying he was “not sure of India’s economic recovery and performance”. He had then blamed lack of reforms within the nation and stated, “I did sell my India shares as I don’t see anything happening. The market was high, and investors had anticipated great things, including me-even if he (PM Modi) were to do things, the market had already discounted some of that because it had gone up a lot…You can’t just invest on hope.”

What recommendation did Jim Rogers give on Indian markets?

But now the ace investor stated, “Let Americans buy bond, you buy equities”, asserting that India is in a candy spot and has much more potential to be “even better in the future’ if the government can keep delivering on its promises. For the first time in my life, I am beginning to think that they (the Indian government) are getting it right.”

He added, “And perhaps, issues are going to alter, so India’s going to be even higher sooner or later than it’s now. So if Mr. Modi does what he says he’s going to do, wow, India goes to be much more astonishing than it’s now.”