Prominent investor Mark Mobius said he is 'very much' concerned about populist promises by the Indian government ahead of general elections in May, reported CNBC.
Mobius, founding partner of Mobius Capital Partners, told CNBC's "Capital Connection" on Tuesday that economic reforms led by PM Narendra Modi may take back seat in view of the upcoming general elections.
"Now, we're holding our breaths to find out what Modi is going to do because if you want to get elected, you have to give something to the farmers…So if this battle ... continues, it's not going to be very good for the budget," Mobius told CNBC.
Mobius, who has been open about terming India as one of the best markets to invest in, said in the report that he would like to see Indian market opening up even further.
"We like to see more opening up so that we can go in and buy small and medium-sized companies freely in China on the A-share market. This is an example of where China can move more quickly and this could be in their interest because it means more foreign exchange coming into the country," he was quoted as saying in the report.
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First Published: Jan 9, 2019 1:41 PM IST
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