'Indian unemployment, inflation worries me; not corruption'
By siliconindia   |   Wednesday, 30 March 2011, 00:55 IST
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'Indian unemployment, inflation worries me; not corruption'
Mumbai: Warren Buffett, the world's wisest investor made his trip to India last week and promised that he would be investing in one business every year. On the same lines we have veteran investor Dr. Joseph Mark Mobius also having plans in expanding his investing portfolio in India. Mark Mobius who is the chairman of nearly $52 billion Franklin Templeton's Emerging Markets Group said that his key concerns in India was unemployment, inflation and corruption which has actually spooked many investors in trying their luck in India. Mobius who chairs the Templeton Asset Management's Emerging Markets Group, is on a four-day visit to India and is attending the company's board meeting later this week in Hyderabad. He will be meeting with Citibank, Barclays and other distributors which sell the Templeton India Growth Fund. The emerging markets group which has invested in many Indian companies does not find the Indian market a whole new place for investments and is unruffled by the spate of corruption reports on India. Mobius said that his first concern in India was unemployment but he said that since the economy of India is growing faster it a no more a worry for him. Mobius, who said he has seen little decline in investor risk appetite despite the crises in Japan and the Middle East, expects natural gas -- which has been a laggard in the recent commodities boom -- to see higher prices. Underscoring inflation as a global concern, he said that the Indian central bank took measures early enough to rein in inflation. Whereas water is concerned, Mobius said that proper usage of water was not made in India and the future of water and its availability would be made at most in the agriculture industry. India's share index is down 7.6 percent in 2011, making it the worst performer in Asia, with foreign investor's net sellers this year after pouring in a record $29.3 billion in 2010.

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