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Billionaire Ray Dalio believes that India is the next big investment opportunity. The country’s historic moon landing this week only reinforced his conviction.
India on Wednesday successfully landed a spacecraft at the lunar south pole, believed to be the most water-rich region on the Moon. Just days before, Russia had failed to become the first country to land a spacecraft there.
India’s rover will now search for water, which could be a source of oxygen and fuel for future missions, or lead to a lunar colony.
“This success belongs to all of humanity,” Indian Prime Minister Narendra Modi said during a webcast of the event.
“India’s successful lunar mission…is yet another of many straws in the wind showing its rise,” wrote Dalio, founder of Bridgewater Associates, in a post in X.
He noted that India tops its “country health index” – where it projects 10-year growth rates for nations – with an estimated growth rate of 7%.
India has “the right mix of ingredients that shows it has great potential and the right leadership to catalyze it,” he added.
In June, Dalío described Modi as “a man whose time has come when India’s time has also come. He and India are in a position analogous to that of Deng Xiaoping and China in the early 1980s, that is, on the verge of the fastest growth rates and the greatest transformations in the world.
With simmering tensions between the US and China, he noted, Modi is “in a unique position to influence the shaping of the world order by influencing the non-aligned world’s dealings with these two major world powers. I believe Modi has what it takes to have the greatest impact on the greatest number of people in the world at a time when the risks of harmful impact are greater than at any other time in our lives.”
Dalio is somewhat less enthusiastic about China these days. While he has invested billions in Chinese companies, he said earlier this month that it is time for China to “engineer” a massive debt restructuring. But “I don’t know of any country that hasn’t done this, usually multiple times,” he said.
Meanwhile, some big names share Dalio’s enthusiasm for India. Tesla CEO Elon Musk recently said that his electric vehicle maker would establish a presence in the country “as soon as humanly possible.” And Goldman Sachs predicted last month that India would become the world’s second-biggest economy by 2075, surpassing the United States.
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