Jim Rogers is an American based investor who is currently based in Singapore. He is the chairman of Rogers Holdings and Beeland Interests Inc.
Jim Rogers says India is an amazing nation and one should visit it for it’s culture, food, religion, etc. But he says its a worst nation to do business in! (according to an interview which appeared in mint)
Reasons why he said this (From livemint.com interview):
He says government keeps on repeating it’s mistake and government just keeps on blaming each other. He said government is currently blaming demand of gold which is causing the economic problems in India. Which is not true. Indians don’t trust other asset classes and hence government should create new and trust worthy asset where Indians can invest.
Regulations for foreign investors are quite stringent. Foreigners cannot invest in commodities.
He said India should have been among the worlds greatest agricultural nation because India has the required soil, people and weather but India has not been promising in agriculture because of politicians. According to the government a framer cannot hold more than five hectares of land, this is one of the reason why Indian farmers cannot compete with farmers from Australia and Canada.
He says India was more successful in 1947 and till 1980 as it was more successful of China. India has not been able to utilize it’s assets efficiently.
India has some smartest people in the world but it doesn’t have proper education system in place to support it.
Indian government is not open for foreign multinationals because of national security.
There are many more reasons why Jim Rogers is avoiding to invest in India. You can read the complete interview on mint.
Jim Rogers previously owned travel business in India and now he is short on India.
“I am short on India because of the currency, and one of the reasons why I am making money is because the currency has gone down.” – Economic Times
image source – Jim Rogers blog