'Modi is Xiaoping': India is where China was in 1984, says founder of world's largest hedge fund
Ray Dalio, during his address at the All-In Summit 2023 held at Royce Hall on UCLA's campus in Los Angeles, has expressed his belief that India holds the highest potential for growth among the top 20 countries globally. Drawing parallels between India's Prime Minister, Narendra Modi, and China's legendary leader Deng Xiaoping, Dalio emphasized the significance of India's substantial reforms in translating into robust economic progress.
«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,» stated Dalio, the founder of Bridgewater Associates, the world's largest hedge fund.
While discussing the rise and fall of nations and the evolving global landscape, Dalio acknowledged the presence of certain risk factors but remained optimistic about India's trajectory, remarking, «I don't think any of these issues are going to stop India.»
Furthermore, Dalio pointed out that India stands to benefit from the ongoing tensions between the United States and China, stating, «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,» underlining India's advantageous position in the changing global landscape.
