‘Neutral nations like India will prosper’: Bridgewater founder Ray Dalio on country's economic growth

American billionaire investor Ray Dalio expressed a very bullish outlook on India, predicting that country will have the strongest growth among other nations' economies in the years to come, reported Gulf News.

Ray Dalio ranked India high during a session titled 'Governments and Shifting Global Order' at the World Government Summit 2023 in Dubai.

“From the last 10 years of study and based on what we are seeing for the country, India will have the biggest and fastest growth rate. This country will see the biggest transformation among the rest of the countries of the world,” said Dalio, who runs the world’s largest hedge fund Bridgewater Associates.

He also added, "The dynamic of India is very interesting. It is dominated by a few families. It is not very open and it is not an easy place to get into but it will do well."

Dalio was speaking at the Global Government Summit 2023 in Dubai, and his thoughts on India were shared during a session titled 'Governments and Changing World Order'.

While referring to the world's two largest economies, he claimed that the US and China have power struggles, but added that neutral nations like India will prosper in future. Dalio further mentioned that countries that stayed away from wars will benefit more than other nations.

Dalio's remarks came at a time when the Indian Monetary Fund (IMF) proclaimed India the world's fifth-largest economy, based on the most recent GDP figures. According to IMF statistics, India's GDP surpassed the United Kingdom to become the world's fifth-largest in the December 2021 quarter.

Bridgewater Associates' billionaire founder eventually relinquished ownership of the firm after 12 years. Dalio ceded all of his voting rights to the board of directors and stood down as one of Bridgewater's three co-chief investment officers on September 30, 2022, committing the firm's future and $150 billion in assets to a new generation of executives with their own investing ideas.

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