Ray Dalio, one of the world’s largest investors, has once again praised Indian Prime Minister Narendra Modi. He has called the country’s Prime Minister Narendra Modi as India’s Deng Xiaoping. He said that despite inequality and low manufacturing base, India has the potential to become a global economic superpower. In conversation with Fortune India, Dalio shared his views on India’s ability to balance relationships among global powers and the importance of leveraging its strengths in services over manufacturing. We also tell you what he said.
Give India here not in manufacturing.
He said India should not try to compete with China on the manufacturing front. He said India’s focus should be on improving domestic education and productivity and harnessing intellectual power internationally. Currently, India’s share in the global manufacturing sector is only 3 percent, while China’s share is more than 30 percent. Let us tell you that nowadays everyone is using the China Plus model. So many companies have started looking at India as an alternative to China. Apple is expanding its presence in India. Many companies are willing to invest in India in the field of semiconductors.
India is Deng Xiaoping and Narendra Modi.
He said that India today is where China was 40 years ago. Going further, he said that when he first went to China 40 years ago, Deng Xiaoping had come to power. Today, Narendra Modi was also doing for India the same work that Deng Xiaoping had done for China. That is why he considers Narendra Modi as the Deng Xiaoping of India. He said that if I were 40 years younger, I would have understood the Indian market and contributed to its development, like I did in China. In other words, I think India is a great place to create deeper understanding and contribute over the next 40 years.
