Commodities guru and hedge fund manager Jim Rogers has sold his holdings in Indian companies and has exited India saying that the Narendra Modi government has failed to live up to the expectations of investors.
In an exclusive interview to Mint, Jim Rogers said PM Narendra Modi’s government “has been all talk and no action”. He also said that one “can’t just invest on hope”.
He told that he had waited for nearly a year-and-a-half since the Modi government came to power last May for reforms.
Rogers said that substantial reforms were required to boost markets and that there was no indication of that. He also indicated that if PM Modi made the currency convertible and opened the market to outsiders, he would consider returning to India.
Rogers made a name for himself after partnering with the legendary George Soros to create the Quantum Fund, which famously netted 4200 percent in a 10-year, nearly-flat US market during the 1970s.