Billionaire Ray Dalio hails India after meeting PM Modi: ‘On the brink of…’
Billionaire investor Ray Dalio hailed India, saying it is “on the brink of the fastest growth” after his meeting with Prime Minister Narendra Modi during his state visit to the United States.
He also praised Modi stating that India has witnessed “the biggest transformations” under his leadership, drawing a comparison between Modi and India to Deng Xiaoping and China in the early 1980s.
“I am pleased to be able to assist PM Modi, as he is a man whose time has come, just as India’s time has also come. He and India are in a similar position to Deng Xiaoping and China in the early 1980s, that is, on the verge of experiencing the fastest growth rates and biggest transformations in the world,” Ray Dalio said retweeting one of Modi’s tweets about their meeting.
The author and co-founder of hedge fund firm Bridgewater Associates further said that the challenges within China and the US, as well as the challenges between these two countries, place Modi in a unique position to influence the dynamics of the world order by shaping the engagements of the non-aligned world with these leading global powers.
“I believe that Modi has what it takes to have the greatest impact on the largest number of people in the world at a time that the risks of harmful impact are greater than at any time in our lifetimes,” he said.
Dalio retired as co-CEO of Bridgewater in 2017 and stepped away as chairman and co-chief investment officer in 2021 and 2022, respectively, according to a report in Forbes.
Earlier on Wednesday, Modi tweeted about his meeting with Dalio, during which they discussed deepening investments in India. Modi said, “Met my friend, the distinguished author and investor @RayDalio. I urged him to deepen investments in India and also discussed the reform trajectory of our government.”
Modi’s meet with other top investors and thought leaders
PM Modi also met other top investors and CEOs during his US state visit, including Tesla’s Elon Musk, who hinted at bringing significant investment by EV maker in India “as soon as humanly possible.” Musk, who also owns Twitter and SpaceX, referred to himself as a “Fan of Modi.”
According to a Bloomberg report quoted by Business Insider, investor Mark Mobius, after meeting PM Modi in the US, said, “To me, India is the real future.” Mark Mobius is the founder of Mobius Capital Partners and is known in investment circles for his high-profile bets on Chinese assets.
During his visit, Modi also met other thought leaders, including American economist and policy entrepreneur Paul Romer, popular astrophysicist Neil DeGrasse Tyson, and essayist and statistician Professor Nassim Nicholas Taleb.