Speaking at the All-In Summit 2023 at Royce Hall on UCLA’s campus in Los Angeles, Dalio likened PM Modi to China’s Deng Xiaoping and batted for the country’s massive reforms to translate into economic gains.
“We have 10 year growth rate estimates for India and the top 20 countries of the world. India has the highest potential growth rate. I think India is where China was when I started to go in 1984. So, if you look at the complexion of per capita income, I think Modi is a Deng Xiaoping. So that you have a massive reform, development, creativity, all those developments,” Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund said.
Dalio, speaking on the rise and fall of nations and the changing world order, admitted that there are risk issues, but said “I don’t think any of these issues are going to stop India.”
The billionaire investor added that India is going to be beneficiary of the ongoing tussle between US and China.
“In history, the countries that were the neutral countries did the best. So in other words – better than the winners in wars. So as we have the conflict between US and China and its allies, Russia and so on, countries that are in the middle like India are going to be beneficiaries of that,” the billionaire investor said.
Watch ‘India is where China was in 1984’: Billionaire investor Ray Dalio backs PM Modi’s handling of India’s economy