WASHINGTON: Billionaire investor Warren Buffett said there are "undiscovered" opportunities in the Indian market which his group holding company, Berkshire Hathaway, would like to explore "in the future".
Buffett's comments came at Berkshire's annual meeting on Friday, when Rajeev Aggarwal of Doordashi Advisors, a US-based hedge fund that invests in Indian equities, asked him about the possibility of Berkshire exploring in India, the world's fifth-largest economy. .
“That's a very good question. I'm sure there are a lot of opportunities in countries like India."
“However, the question is whether we have any leverage or insight into those businesses in India or any contacts that would make possible transactions in which Berkshire wants to participate.This is something that a more energetic management at Berkshire could pursue," said the co-founder, chairman and CEO of Berkshire Hathaway.
Buffett, 93, said Berkshire has a very good reputation around the world. He said that his Japanese experience has been quite fascinating.
"There may be an unknown or unattainable opportunity...but it could be something in the future," he said of India.
Buffett said the question is whether Berkshire has any kind of advantage in pursuing those unmarketable opportunities, especially against people who are managing other people's money and getting paid based on assets.During a question and answer session, Buffett answered a number of questions related to some of the major investment decisions recently taken by Berkshire Hathaway.
Certainly reducing stake in Apple was one of the major topics. Buffett clarified that this has nothing to do with the long-term outlook on the stock and that Apple will likely remain one of his largest holdings despite the recent downturn.
He also told shareholders that Vice Chairmen Greg Abell and Ajit Jain have proven themselves to be the right people to lead Berkshire after his departure.
Buffett's comments came at Berkshire's annual meeting on Friday, when Rajeev Aggarwal of Doordashi Advisors, a US-based hedge fund that invests in Indian equities, asked him about the possibility of Berkshire exploring in India, the world's fifth-largest economy. .
“That's a very good question. I'm sure there are a lot of opportunities in countries like India."
“However, the question is whether we have any leverage or insight into those businesses in India or any contacts that would make possible transactions in which Berkshire wants to participate.This is something that a more energetic management at Berkshire could pursue," said the co-founder, chairman and CEO of Berkshire Hathaway.
Buffett, 93, said Berkshire has a very good reputation around the world. He said that his Japanese experience has been quite fascinating.
"There may be an unknown or unattainable opportunity...but it could be something in the future," he said of India.
Buffett said the question is whether Berkshire has any kind of advantage in pursuing those unmarketable opportunities, especially against people who are managing other people's money and getting paid based on assets.During a question and answer session, Buffett answered a number of questions related to some of the major investment decisions recently taken by Berkshire Hathaway.
Certainly reducing stake in Apple was one of the major topics. Buffett clarified that this has nothing to do with the long-term outlook on the stock and that Apple will likely remain one of his largest holdings despite the recent downturn.
He also told shareholders that Vice Chairmen Greg Abell and Ajit Jain have proven themselves to be the right people to lead Berkshire after his departure.
