May 05, 2024 01:24 PM IST
Perhaps a “more energetic” Berkshire Hathaway management could pursue these opportunities, according to Warren Buffett.
India has “unexplored” opportunities which Warren Buffett’s Berkshire Hathaway would like to explore “in future,” the billionaire investor has said.
Buffett made the assertion at Berkshire’s annual meeting on Friday, according to Moneycontrol. There, he was asked by Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund that invests in Indian equities, about the possibility of Berkshire exploring opportunities in the country, the world’s fifth-largest economy.
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“Indian equities have done quite well in the last 20 years. It will be the third-largest economy in the next few years. Are you looking for activities in the equity market and what will allow you to buy anything meaningful there?” Agarwal asked Buffett.
The latter, one of the wealthiest individuals in the world, responded, “It is a very good question. I am sure there are loads of opportunities in countries like India.”
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“The question, however, is whether we have any advantage or insights into those businesses in India, or any contacts that will make possible transactions that Berkshire would like to participate in. That is something a more energetic management at Berkshire could pursue,” Buffett noted.
The ace businessman also recalled his experience with another Asian nation, Japan, where the Omaha, Nebraska-based conglomerate bought into five trading houses last year. The Japanese experience, he mentioned, has been “fascinating enough.”
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Continuing on India, Buffett then said, “There may be an unexplored or unattended opportunity, but that may be something in the future. But there are opportunities.”
As per Bloomberg’s real-time Billionaire’s Index, Buffett has a net worth of $132 billion, which makes him ninth-richest globally. The Forbes Index, on the other hand, lists him at eighth with a fortune of $131.7 billion.
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