'Modi is Deng Xiaoping, India has highest growth potential'

Ray Dalio, the prominent investor and founder of investment management firm Bridgewater Associates, has lauded India's current growth trajectory, drawing parallels between today's India and China in the 1980s.

Dalio even likened Prime Minister Narendra Modi to the former leader of the People's Republic of China, Deng Xiaoping, who is widely credited with opening up China's economy to foreign investors and promoting the development of a market economy.

"I think Modi is a Deng Xiaoping," Dalio said.

"We have 10-year growth rate estimates for India, comparing it to the top 22 countries globally. India stands out with the highest potential growth rate. It is where China was when I began to invest in 1984. If you look at the demographics, per capita income, and I think Modi is a Deng-like figure, you see a massive push for reform, development, creativity, and all those elements. Of course, there are challenges and risks, but India is exceedingly important," he said in a recent podcast interview at the All-In Summit 2023 on the UCLA campus in Los Angeles.