Buffett to invest more in India

March 23rd, 2011 - 7:09 pm ICT by IANS  

Bangalore, March 23 (IANS) World’s third richest billionaire Warren Buffett Wednesday expressed readiness to do business in India and hailed Karnataka for attracting global investments in the southern state.

“I look forward to doing more business in India. I came here with enough knowledge of the Indian economy and that has been reinforced,” Buffett (80) said at an interactive session with state Chief Minister B.S. Yeddyurappa and top officials.

Lauding the state government for doing the right thing to attract global investors to the state, Buffett said he made the right decision to first land in Bangalore on his maiden trip to India and was delighted to be in this tech hub.

“You are doing the right thing. I couldn’t feel more delighted to be here. This is my first trip to India and I first landed on Bangalore soil. I think I made the right decision. I could not feel more welcome and people are wonderful,” Buffett asserted.

The Berkshire Hathway chief executive said in lighter vein that he would revisit India and Bangalore in 2030 when he would turn 100 years. He hastened to add he would like to come much earlier.

Buffett said he was overwhelmed by the welcome he received from the moment he landed Tuesday evening.

“They treated me much better in India than they do in the United States and I am touched by the Indian hospitality,” Buffett told the chief minister.

Inviting Buffett to be the chief guest of the next Global Investors’ Meet the state government would hold in June 2012, Yeddyurappa urged the billionaire to explore investment opportunities in Karnataka.

Buffet also lauded the state government for facilitating the setting up of a food-processing plant at Nanjungud near Mysore, about 200 km from here, by global major Nestle in a record 10 months.

Referring to his philanthropic activities, Buffett said he would talk to Indian billionaires on what he was doing in the area and how to give back more to society.

“We are not here to pressurise anybody. Everybody has his own understanding of philanthropy. I will be talking to Indian billionaires about our philanthropic activities and find out what they are doing,” Buffett pointed out.

Asked on his advice to young entrepreneurs in India, Buffett said: “The best investment one can do is to invest in yourself. The more you understand yourself, the better is your judgment.”

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