Warren Buffett, the billionaire investor, expressed his belief in the untapped potential of the Indian market and hinted at the possibility of Berkshire Hathaway exploring opportunities there in the future.
During Berkshire's annual meeting, Buffett responded to a query from Rajeev Agarwal of DoorDarshi Advisors, acknowledging the vast opportunities present in countries like India. However, he emphasized the need for Berkshire to have insights, contacts, and energetic management to effectively pursue business ventures in India.
Buffett highlighted the importance of having proactive management within Berkshire to identify and seize opportunities in markets like India. He also shared his fascination with previous business experiences in Japan, indicating his openness to exploring new markets.
During the meeting's Q&A session, Buffett addressed various inquiries regarding Berkshire Hathaway's recent investment decisions, including the reduction in its stake in Apple. He clarified that this move did not signify a change in their long-term perspective on the stock, affirming Apple's significance as one of their largest holdings despite adjustments.
Furthermore, Buffett assured shareholders of Berkshire's future leadership, expressing confidence in Vice Chairmen Greg Abel and Ajit Jain to guide the company forward after his eventual departure.
