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Why trading guru Jim Rogers quit India

Commodities trading guru and hedge fund manager Jim Rogers has sold his holdings in Indian companies and exited India because, he says, the National Democratic Alliance (NDA) government has failed to live up to investors’ expectations.

business Updated: Sep 03, 2015 21:58 IST
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Commodities trading guru and hedge fund manager Jim Rogers (Reuters Photo)
Commodities trading guru and hedge fund manager Jim Rogers (Reuters Photo)

Commodities trading guru and hedge fund manager Jim Rogers has sold his holdings in Indian companies and exited India because, he says, the National Democratic Alliance (NDA) government has failed to live up to investors’ expectations.

The chairman of Rogers Holdings Ltd, who said in April that he was becoming disillusioned by India because the Narendra Modi government has been all about talk and no action, believes the Indian market lacks any new drivers to propel it.

“I am sure Modi is a smart guy, he enjoys good press, and he makes a lot of friends for India. But I, as an investor, after almost a year-and-a-half, have decided to move on to other places, partly also because stock markets are not going to be particularly good for the next year or two,” Rogers said in an interview.

Read the edited excerpts here