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okay we have we have with us our next guest and our next guest is Jim Rogers and Jim Rogers is an American businessman investor and author sorry to have kept you waiting we have a regular annual fight every budget unfortunately you continue to be a China fan but I need to tell you Jim that India has moved up 14 spots in the Ease of Doing Business Rankings we've had fantastic corporate tax cuts the rest of the world is not going anywhere really it's a catastrophe and you despite that you yeah yeah and we don't have a corona virus either unlike China I sorry I don't want to be say you know say the stick about things like this but I hope that you're feeling a little better about India and the budget this time Jim I will say to you again India's one of my favorite countries in the whole world but earlier you announced this budge is going to make India an investment destination come on what are you talking about your currencies not convertible you're it's empowering difficult for foreigners to invest there if I want to buy shares in India I can but it's not easy what are you talking about an investment destination grippies fully convertible except one except on a very limited scale I don't know what you mean by connection mr Venkatesh I I strongly object your statement that the rupee is not convertible it's fully habitable FBI has FBI is in creating place you can bring in money and take it off people have been doing this for decades now I think you're stuck in 1980s Jim I must be I must be because when I try to do it I cannot do it you give me your banker I have the wrong bankers obvious probably you do you're still not up to date that's your problem right for India that is very good news we don't want your we don't want her either we will we will definitely try to do a professional and analysis of the whole issue let us see what water the problem with people like Jim PK is that he is a perennial and some of no no he's a perennial and professional bullish on Russia for instance right now no no what do you mean up let me let me let me counter you on fact you go on sentiment I go on fact and I'll tell you one thing here today PK that you say India is getting deeper and deeper into debt have you even read the economic survey I'll send you a copy right now you know it surely India is able to comfortably maintain PK comfortably maintain external debt at at 46 for 61 billion external debt levels remained at 20% this finest loader this going higher even the government acknowledges the debts going higher I don't understand what you're saying no external debt external debt remains Abhishek please you know PK don't restrain yourself you know this man every year he comes on my program and he puts sentiments down you know he says he says the biggest public fallacies that the markets are always right the markets are always wrong I can assure you of that problem with Jimmy's depends on which way the markets are going and our debt-to-gdp past best available in the emerging markets for India absolutely peak Abbas was responding cube called PK don't careful fester in China Russia was better last year just correction I may be a possibility but I know Russia was better than India last year well I mean you know I mean is a 1/1 commodity economy it's it's it's just right it's oil if oil prices are up Russia does well that's there's nothing more to they you don't meet the risk you lick look at the the breadth of the Indian market I mean investors in this country have have done remarkably well over a long period of time and Jim you just missed the bus I mean it's it's it's sad to say that you've missed this enormous opportunity to make money in one of the best performing emerging markets over the last 15 years Russia is not a 1:1 commodity market oil has been doing terrible for five years Russia was the best stock market in the world last year despite oil because don't get me wrong I love India and the market has been great and you're right I did not make money in the Indian stock market last year I acknowledge you put your money where your mouth is and prove to that to us that you will see India as a great distinction oh no no what is the type of democracy that we have the institutions that we have that the type of breath that the markets have I am sure you will agree with me and I and I said China and I and I'm no comparison I tell you here Donald Trump is coming here Donald Trump is coming to India around the twenty four twenty fifth of February and you know a little bird tells me there that we are going to be finalizing a ten billion dollar mega trade deal this month right so this is a breakthrough okay off and and after in the u.s.
crashed clashed over the over the tariffs last year so India's emerging as a benefit of the us-china trade war these are trends you need to read I'm surprised actually I'm surprised Jim you used to be good at reading trends once upon a time why is the Indian government raising tariffs there I'm told that this new but you will have tariff increases you're saying that's incorrect what I am Telling You is that when the India and the u.s.
clashed over tariffs we're different position it's which country would not would not defend its own interests would America not defend its own interests oh by the way would Russia not defend its own interest come on Jeb let's go very much in favor of open markets I'm just saying that India the government says it's going to raise down you need to look at the macro picture I am saying to you I am saying to you we were unaffected by the us-china trade war okay economic growth is pegging here survey says back to 6.5 forex reserves please understand what we are talking about 466 thousand million dollars
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