Mark Mobius, the global economics and investment guru talked about the recent liquidity crunch hit up India and was bullish about the growth and said how the constant falling rupee, and how India can take advantage of it.
Mark Mobius is recently retired from Franklin Templeton as the executive chairman and retired from Templeton, and has started up his own investment firm, Mobius Capital Partners LLP. Mobius is also an investment guru and he recently talked about the Indian economy saying that India should take advantage of the weakening rupee against dollar. According to his theory, the constantly falling rupee has made exports much competitive and India should take its advantage. “It’s time India took advantage of US-China trade war and bring in some manufacturing to South Asia,” he said.
Indian Rupee is depreciated and fallen nearly about 13 percent to touch down the bottom level with a value of one dollar equivalent to around 74 Indian Rupees. So Mobius believes that this should be grabbed as an opportunity to boost exports and gain more profits from international market to increase overall economic growth of the nation. Citing this concept, Mobius attended the two-day Morningstar Investor Conference 2018 in Mumbai and is also interested in coming to India to gain from the tons of bargain in investment that is available in the nation by expanding his investment business to India.
Mobius also discussed the rising crude oil prices. He said, “India needs to accelerate the transition to other sources of energy,” upon questioning about the rising oil prices. He visited India recently for formalities and getting an approval from the Securities and Exchange Board of India for his recently started Investment firm. He said that India should make it easier for foreign investors to come in when India is facing tight liquidity. Apart from all other factors that affect the Indian economy, he said that if there comes any political change, it will cause some market uncertainty.