Modi effect working? Investment guru Jim Rogers is unhappy about exiting India

 As the Sensex and Nifty scale new highs, hedge fund manager and investment guru Jim Rogers regrets his decision to exit India in 2015. As the Sensex and Nifty scale new highs, hedge fund manager and investment guru Jim Rogers regrets his decision to exit India in 2015. Two years ago, he sold off his holdings in Indian companies on the belief that Prime Minister Narendra Modi-led NDA government didn’t fulfil investor expectations. Rogers lauded the Modi government’s ability to turn around things and markets producing record rally. He admitted that his exited Indian companies based on his learnings from Modi’s policies as chief minister of Gujarat. “Yes, I am impressed, and I see that the markets are at an all-time high, currency is going up—they are making new highs without me, and that does not make me happy,” he told Rogers, however, doesn’t want to enter India at the moment. 

Drawing an analogy while boarding a moving train and getting hurt, he said it doesn’t make sense to enter market when it is on a high. “India is currently on my list of something to do,” he added. The government is clearing roadblocks to implement Goods and Services Tax (GST) from July 1, Rogers said he is “amazed and stunned”. Measures like GST will only make investors take notice of India. Global Headwinds — US Attacks Syria Rogers said that global factors such as Donald Trump administration bombing Syria are a worry. “Many American presidents love war, and Mr Trump had said he was a non-interventionist,” he said. He added that Modi won’t do anything rash before next elections (2019) — but the global situation can have an impact on India, irrespective of what the Prime Minister does 

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