Renowned investor Jim Rogers has said he will look to seize an opportunity to buy Indian equities if the market drops following the general elections, though he doesn’t expect a major correction.

What Happened: Rogers said in an interview with Mint that he has not invested in Indian shares yet but is closely monitoring the market for good investment opportunities.

Looking ahead to India’s national election, Rogers believes a victory for Prime Minister Narendra Modi would maintain market strength, but he would quickly latch on to any weakness.

“Prime Minister Narendra Modi has certainly implemented several measures beneficial to the Indian economy. If he secures victory, I expect the Indian stock market to remain strong. If the Indian stock market goes down a lot then I would change my strategy and start investing in India again,” he said.

On The Long-Term Hunt: Rogers prefers long-term investments when markets are down, aiming for a holding period of at least five years to benefit from sustained positive developments.

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He sees a promising future for India as an investment destination: “For the first time in my lifetime, India is going to be a very good place to invest,” Rogers asserted, highlighting the Indian government’s understanding of the economy and its focus on investment and wealth generation.

Despite India’s stock market being at an all-time high, Rogers remains optimistic about its potential, especially in sectors like agriculture, tourism and manufacturing. He notes the government’s push towards enhancing India’s manufacturing capabilities, driven by its intellectual capital and skilled workforce.

“India aspires to enhance its manufacturing prowess, and it’s actively working towards that goal. With its abundant intellectual capital and skilled workforce, India possesses all the essential ingredients,” he said.

Hold On To Commodities: Rogers also sees value in commodities, noting that while many stocks are at record highs, commodities like silver and sugar are significantly down. “Currently, commodities are cheaper than stocks right now,” he points out. He continues to hold gold and silver as secure investments, particularly appreciating their value during turbulent times.

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