Indian market has unexplored opportunities: Warren Buffett
Warren Buffett sees 'unexplored opportunities' in India's market, but questions if Berkshire Hathaway has an edge to invest there.
American businessman, investor, and philanthropist Warren Buffett expressed interest in India's potential, calling the market ‘unexplored’ and hinting at future investments by his firm Berkshire Hathaway.
According to reports, Buffet who is the co-founder, chairman and CEO of Berkshire Hathaway was questioned about his company’s interest in the India market at the Berkshire's annual meeting. While not committing to immediate action, Buffett acknowledged the vast potential India holds.
“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," PTI quoted him.
According to Buffet while there may be unexplored opportunities in the Indian market, the key question for Berkshire Hathaway is whether they possess a distinct advantage in pursuing them.
Alongside answering queries on interests in the Indian market Buffet also addressed some of Berkshire Hathaway's recent investment moves at the question and answer session of the Berkshire's annual meeting.
A hot topic was the company's decision to reduce its stake in Apple. Buffett mentioned how this move didn't reflect a negative outlook on Apple's long-term prospects. He even suggested Apple would likely remain one of Berkshire's largest holdings, despite the recent trimming.
