Thaindian News

Bangalore, March 22 (IANS) Billionaire US investor Warren Buffett Tuesday said America will prosper better if countries like India prosper.

“I am an enormous believer in trade… Trade is essential for world prosperity. The more countries like India and China prosper, America will prosper better,” he told reporters soon after arriving here on a visit to India that will also take him to Mumbai and New Delhi.

He was answering a question on the perception in the US government and other circles that India, particularly Bangalore, was taking away American jobs.

“There are 309 million Americans. There will be such feelings,” he said.

Buffett said he would like to invest in insurance sector but indicated that the 26 percent cap on foreign investment was a hindrance.

On his philanthropic activities and reports that he was in India to urge Indian billionaires to give more to charity, Buffett said he would only be talking to people.

“Your culture is different, history is different. I will be only talking to people on what is being done in the United States. We are not here to organise anything,” he said.

On what he would be discussing in his meeting with Prime Minister Manmohan Singh, he said: “We will talk what the prime minister wants to talk about, not what I want to.”