Unexplored opportunities in India abundant, says billionaire Warren Buffet

Berkshire's India interests: Investment mogul and billionaire Warren Buffet has said that there are abundant unexplored and unattended opportunities but did not fully divulge any plans of his multi-million conglomerate Berkshire Hathaway to invest in India. Addressing the annual general meeting (AGM) of multi-million dollar conglomerate Berkshire Hathaway at Omaha in the US, Buffet though hinted at exploring India as an investment destination in days to come. 

Responding to a Republic Business query on Buffet's comments, a US-based journalist said the AGM, personally Buffet's 160th and the first after the death of former Berkshire co-founder and Vice-Chairman Charlie Munger, Buffet, who is the co-founder and CEO of the conglomerate, was bullish on India as an investment destination.   

"At the AGM, Buffet was upbeat on India and Japan and expressed optimism over vast opportunities,” he said. As per media reports, Buffett's response on India as an investment destination was in response to a question of Rajeev Agarwal, the representative of a US-based hedge fund DoorDarshi Advisors. 

Management to drive India focus

Buffet is said to have deliberated on the question with the Berkshire investors at the AGM on ways to enter into viable partnerships in India. "In India, I am sure that there are loads of opportunities in a place like India, and the question is do we have any advantage, in either insight into those businesses or contacts that will make it possible for some transactions that participants in India would particularly want us to participate," Buffet said.

Making comments on Japan as an investment destination Buffet was reported to have said to have praised the country. "I would say that's something that more energetic management at Berkshire could pursue because we do have a reputation now and is known around the world and our Japanese experience has been fascinating. In that respect, so there may be an unexplored or unattended to opportunities and area (in India)," Buffet was reported to have added.

Buffet who assured the investors that his successors at Berkshire’s were well-prepared also added that the conglomerate's management will decide on investments in India. "We will see how the next management plays the game out at Berkshire and fortunately you don't have too long to wait on that generally," he said.