Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Markets / Stock Markets/  Mark Mobius sees India as best investment alternative to China with most economic opportunity
BackBack

Mark Mobius sees India as best investment alternative to China with most economic opportunity

When asked about the best investment alternative to China with economic opportunity, Mobius believes it is India. He said, ‘India number 1, you got a billion people, they can do the same thing as the Chinese can do.’

Mark Mobius believes India is the number investment alternative to China with most economic opportunity. (Aniruddha Chowdhury/Mint)Premium
Mark Mobius believes India is the number investment alternative to China with most economic opportunity. (Aniruddha Chowdhury/Mint)

American-born German emerging markets fund manager, Mark Mobius believes India number 1 investment alternative with economic opportunity. He believes that India can do the same thing as the Chinese can do. Mobius' statement comes in an interview with Fox Business where he talked about investment in China but also how he along with other investors are affected by this country's strict government rules.

Mobius told Fox Business that the bottom line is that China is moving in a completely different direction when they started the reform program.

He further revealed to the news channel that he is personally affected. He has a bank account with HSBC in Shanghai and he can't take his money out. He said the Chinese government is restricting the flow of money out of the country. And he pointed out that he can't get an explanation of why they were doing this.

He said, China is putting up all kinds of barriers. He added, " They don't say: No, you can't get your money out. But they say: give us all the records from 20 years of how you made this money ... This is crazy."

The Fox Business cited a survey that revealed that the majority of the US companies say China is no longer seen as a "top 3 investment priority". When asked about the best investment alternative to China with economic opportunity, Mobius believes it is India. He said, "India number 1, you got a billion people, they can do the same thing as the Chinese can do." He added, India can do the same kind of manufacturing and so forth.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 05 Mar 2023, 01:34 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App