Indian economy has potential to do much better than China in near future: Jim Rogers
India is going to be one of the most exciting investment destinations in the world and it will certainly be compared to China and, maybe, even do much better than China in coming years, ace investor Jim Rogers has said.
In an interaction with IANS, he said that 'I have been around the investment world for decades, and for the first time in my life, I see that the people in Delhi understand economics'.
'India's rising again. I think that the people in Delhi understand what needs to be done and are trying to do it. And that would be so wonderful for India and for the world. If India can actually open up and have trade with the whole world. You cannot believe how exciting India can be in the future,' said the American investor and financial commentator.
'I don't have investments in India right now, but I really, really want to invest more in the fastest-growing economy,' he added, adding that if the market goes down and stays down for a while, 'I want to put more money in India'.
ndia is poised to become the world's fourth-largest economy in 2025 with the country's nominal GDP rising to $4,187.017 billion during the year to surpass Japan's GDP pegged at $4,186.431 billion, according to the IMF's latest 'World Economic Outlook' report.
On free trade agreement (FTAs), Rogers told IANS that more free trade is better for the world, especially India.
'It will be extremely exciting for the world, including foreign investors,' he mentioned.
India has signed 13 FTAs with its trading partners. The country is currently negotiating the following FTAs with its trading partners: India-EU FTA, India Australia Comprehensive Economic Cooperation Agreement (CECA), India-Peru Trade Agreement, covering goods, services and investment, India-Sri Lanka Economic and Technical Cooperation Agreement (ETCA) and India-Oman FTA.
India and the United Kingdom have signed a landmark FTA, momentous not only in quantitative magnitude -- encompassing reductions across 90 per cent of tariff lines -- but also in its emblematic stature as a recalibration of post-globalisation economic strategy.
The FTA signal a new global trade strategy, bypassing China's dependence, navigating US tariffs and reshaping post BREXIT Britain, according to an SBI report.
Moreover, India has also initiated review of its existing FTAs, namely, India-South Korea Comprehensive Economic Partnership Agreement (CEPA), and ASEAN-India Trade in Goods Agreement (AITIGA).
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