Warren Buffett Answers Key Question About Indian Markets

Mr. Buffett’s remarks came at Berkshire’s annual meeting on Friday. Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund that invests in Indian equities, asked him about the possibility of Berkshire exploring in India, the world’s fifth-largest economy. Buffett responded by saying that there are likely many opportunities in countries like India.

However, he questioned whether Berkshire has the advantage, insights, or contacts necessary for participating in transactions in India. He suggested that a more energetic management at Berkshire could pursue these opportunities. Buffett spoke about Berkshire’s great reputation around the world and shared his fascinating Japanese experience.

While he acknowledged the potential for unexplored or unattended opportunities in India, he emphasized the need to assess whether Berkshire has a competitive advantage in pursuing these opportunities, especially against those managing other people’s money. During a Question and Answer session, Buffett addressed various questions related to Berkshire Hathway’s recent investment decisions. He clarified that the decision to reduce stake in Apple was not indicative of a long-term view on the stock and that Apple would likely remain one of their largest holdings despite the recent slowdown.

Additionally, he expressed confidence in Vice Chairmen Greg Abel and Ajit Jain as the right people to lead Berkshire after his departure.