Billionaire investor Warren Buffett, speaking at Berkshire Hathaway's annual meeting, expressed interest in exploring untapped opportunities in the Indian market. Responding to a query from Rajeev Agarwal of DoorDarshi Advisors about the possibility of Berkshire venturing into India, Buffett acknowledged the potential of the Indian economy as the world's fifth-largest.
“It is a very good question. I am sure there are loads of opportunities in countries like India,” he said.
“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,” the co-founder, chairman and CEO of Berkshire Hathaway added.
Further, the 93-year-old investor said Berkshire has a great reputation worldwide. About India he said, “There may be an unexplored or an unattended opportunity…but that may be something in the future.”
Buffett said the question is if Berkshire has some kind of advantage in pursuing those unattended opportunities, particularly against people who are managing other people’s money and getting paid based on assets.
Moreover, during a Question and Answer session, Buffett talked about some of the key investment decisions taken by Berkshire Hathway lately. The prominent of it being reducing its stake in Apple.
Buffett clarified that it had nothing to do with the long-term view on the stock and Apple will probably remain one of their largest holdings despite the recent slowdown.
Additionally, Buffett endorsed Vice Chairmen Greg Abel and Ajit Jain as suitable successors to lead Berkshire Hathaway after his departure.
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