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welcome back you're watching India sense with me Gori dedi onto the top voice segment of the show where I speak with GL Global opinion makers and leaders uh this week uh we have Mark movus legendary investor who understands Emerging Markets like none other Mr M thanks much for uh speaking to NDTV my uh first question to you sir is um that there's been a historic mandate that Prime Minister Modi has come back with the markets have given a thumbs up to the word it how do you see um and what lies ahead as far as prime minister modi's road map and agenda is concerned well of course uh we were all very excited to see him come back because he's done so much for the Indian economy um of course he did not get the expected U um amount of seats to to change the Constitution but that's fine I mean it showed that Indian democracy is working and uh I think that's a good thing and I think it's also good that U he does he has to make amends and make agreements with the opposition which I think is healthy for the country um so I think uh everything is going very well I think uh India will continue to go from strength to strength indeed uh and in Modi 3.0 uh Mr mobus the focus is largely expected to be on growth and development but I have to ask you this you've been tracking emerging markets for almost six decades now what do you think is India's secret Source towards becoming a superpow what could that be well the first most important key source is the Indian people you have a young population average age what about 26 27 it's a huge population over a billion the largest now in the world uh uh and an incredible number of people speaking international language English which can you know can absorb a lot more technology and do more globally than perhaps any other country in the world and then you have this incredible uh variety of uh uh outlooks and cultures with the different states which I think is a big big strength for India because you have the different viewpoints different ways looking at things and that is very important and then of course out of this has grown uh the interest in technology which uh Modi is promoting the digitization of the economy which is accelerating growth in the country so all of these things put together make for it interesting and very uh optimistic Outlook to the country technology definitely is important but before that I want to ask you about infrastructure structure because that's been the Hallmark in in the first two terms in the last 10 years we've seen major infrastructure push do you expect that to continue of course uh infrastructure is one of the drawbacks one of the problems that India faces because the uh movement of people from the rural areas to the urban areas and the the general um how could I say the enthusiasm of the young population is moving ahead of the infrastructure so uh the country has to move very quickly uh to uh move the infrastructure forward and improve infrastructure and that includes roads it includes railroads it includes power I mean India needs more and more power and power distribution so all of these things must be accelerated uh and I'm happy to see that a lot is being done in that direction but more needs to be done it's a quite a a big task all right now the other aspect as far as the Indian economic scenario is how does China do right now the Chinese economy is slowing down and I want to ask you this sir that how important or how crucial do you think this is for the Indian economy which are the sectors you feel that investors would dump China for India well if you look at China obviously the economy has grown to such a St size high that is very difficult for China to grow at 10% or 7% like it did in the past simply it's too big it's the same with the US the US is such a huge economy very difficult to have a growth of more than three or 4% a year so that's one thing uh the other thing that's happened is that Chinese workers are have increased their incomes pretty dramatically over the last 10 years so per capita wages have moved up uh now of course they're below a lot of other countries in the world but still they' moved up and there's a need for them to move a lot of their manufacturing outside of China which is why India has an opportunity uh so one of the things that I think India has to do is welcome uh Chinese investment and I know there may be some political concerns about that but uh generally India can do a lot that China has been doing in the past because the wages in India are so much lower and of course the skills of Indian workers are just as good as Chinese workers if not better so uh there's an incredible opportunity there and of course the other opportunity is the fact that the Americans and Europeans would like to uh diversify their supply chains and one way to do that is to do more in India to uh get more supplies from India and that will U alleviate the supply chain crisis they have been facing with too much Reliance on China in your opinion Mr mobus which are the three key reforms that you would want Modi 3.2 to undertake I think one of the uh key measures many of course but one of the key measures would be to free up uh the inflows of investments in other words make it easier for uh investors to come into the country uh that means freeing up the exchange rate uh systems uh the you know the flows of funds in and out of the country and make it easier for foreign countries and foreign companies to register uh their uh Enterprises in India I think it's very very important because that will accelerate the inflow of Investments you mentioned technology earlier in the interview I want to ask you this uh what do you think will be the next phase of tech growth in India we've had UPI which has been the backbone of our financial payments system what's the future like for our Tech landscape well the most interesting thing about India is that they already are a leader in software and you know you travel around the world and you'll see Indian software companies doing work for companies in Latin America in Americas in Europe and so forth and so on so this is an incredible accomplishment and by the way one of the reasons for that is course they're the ability of the Indian entrepreneurs to speak English and to operate in different parts of the world so that's a terrific accomplishment but now the next phase has to be the semiconductors and Hardware in other words Electronics Hardware is where India will excel in the future simply because you've got the population you've got the workers and you've got the knowhow there's no reason why you can't do the same thing that happening in China and Taiwan and other parts of the world and maybe even better you know it's interesting one of my friends said oh the Indians don't have the skill of the Chinese in making semiconductors and I said have you ever seen where all of the diamonds in the world are polished and how small those diamonds are and how skilled those workers are there's no reason why they can't do the same thing with semic conductus so uh there's a great opportunity there and I think India will grow dramatically in that direction thanks much for speaking to NDTV
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