Delhi Now Truly Grasping Economics Under PM Modi: Insights from Jim Rogers (IANS Exclusive)

New Delhi, Nov 28 (NationPress) In a significant endorsement of Prime Minister Narendra Modi’s economic strategies, Jim Rogers, a distinguished global investor recognized for his profound expertise and strategic insights, conveyed to IANS on Thursday that for many years, the Central governments have articulated many commendable ideas but seldom followed through on them.

However, under PM Modi’s leadership, there has been a remarkable transformation over the past couple of years regarding the economy and stock market, stated the 82-year-old Rogers, expressing a desire to reinvest in a nation poised to achieve Viksit Bharat (Developed India) by 2047.

“Historically, Delhi has made a lot of good promises, yet they have rarely been genuine. I never sensed that Delhi comprehended economics or what needed to be done. But now, for the very first time, I believe Delhi understands and is sincere about it, and things are going to improve,” emphasized Rogers.

India has experienced an unparalleled rise in economic activity, with an astonishing $8 trillion invested over the past decade, accounting for over half of the total $14 trillion invested since 1947, as per a recent report by financial services leader Motilal Oswal.

This upward trend is anticipated to persist, with forecasts suggesting that India will invest an additional $8 trillion within the next five years.

In the past decade, more than 25 crore Indians have successfully risen above the poverty line.

Regarding economic growth, India is expected to be the fastest-growing economy among the G20 nations, projecting a 7 percent GDP growth rate for 2024.

The Reserve Bank of India (RBI) has predicted that the nation is likely to achieve real GDP growth of 7.2 percent for FY 2024-25. Domestic growth has maintained its momentum, buoyed by rising private consumption and investment. Rural spending has seen a resurgence due to easing inflation, particularly in food prices.

Rogers shared with IANS that after many years, India has come to the understanding that “prosperity is not negative and success is not bad either.”

“There is a noticeable positive shift in New Delhi. I realized I sold my investments in India too early. I am eager to invest more in India, as the country has a promising future,” remarked Rogers, the American millionaire residing in Singapore.

(Nishant Arora can be reached at nishant.a@ians.in)