5 things Warren Buffett talks about India

The whole world sits up and takes note when legendary investor Warren Buffett speaks.

This time, Buffett told Tanvir Gill of ETNow to pay attention to businesses, rather than market. He also talked about the Indian opportunity, which he said is too huge to ignore.

Here are the five key takeaways from the interview:

On future generation
Buffett said the future generation of India will live better than the present one. “India has a terrific future due to the brain power it has,” he said. In this context, he talked about the IITs, and recalled how Microsoft owner Bill Gates once told him that he would only hire engineers from an IIT.

The Indian opportunity
Buffett said India has a huge and enormous market for anyone to ignore. He said he would be in India if he finds there was a good value company for sale.

Per capita income
With the Indian growth story, there is no doubt that per capital income for India will go up rapidly, says Buffett. According to reports, India’s per capita income is expected to increase from Rs 1.06 lakh in 2015-16 to Rs 3.14 lakh in 2031-32.

On Indian hospitality
Buffett said he was amazed by the hospitality he received in India last time he visited the country.

On Ajit Jain
While addressing the 53rd annual general meeting of Berkshire Hathaway, Buffett said: “Nobody would possibly replace Ajit Jain if he were to leave or retire. There are things which only he can do. But we have a terrific team, a lot of things are institutionalised in this business. Ajit Jain made more money for Berkshire than I have probably.”