Warren Buffett’s Response to a Key Query Regarding Indian Markets admin, May 5, 2024 Mr Buffett’s remarks were made at Berkshire’s annual meeting on Friday when Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund investing in Indian equities, asked him about the possibility of Berkshire exploring in India, the world’s fifth-largest economy. Buffett expressed that there are likely numerous opportunities in countries like India, but the crucial question is whether Berkshire has any advantage or insights into those businesses in India, or any contacts that would facilitate transactions that Berkshire would want to participate in. He suggested that a more energetic management at Berkshire could pursue these opportunities. He emphasized the importance of considering whether Berkshire has an advantage in pursuing unattended opportunities, especially against people managing other people’s money and getting paid based on assets. During the Question and Answer session, Mr Buffett addressed several questions related to key investment decisions taken by Berkshire Hathaway recently. Notably, he clarified that the decision to reduce the stake in Apple was unrelated to their long-term view on the stock and confirmed that Apple would likely remain one of their largest holdings despite the recent slowdown. He also affirmed that Vice Chairmen Greg Abel and Ajit Jain are the right people to lead Berkshire after his departure. Overall, Mr Buffett acknowledged the potential in India but emphasized the importance of evaluating Berkshire’s advantage in pursuing opportunities and ensuring energetic management. He also affirmed the long-term view on Apple and expressed confidence in the future leadership of Berkshire. Warren Buffett