‘It’s an Adani problem’: Mark Mobius remains bullish on India

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Mobius reiterated his optimism about India. Mobius told Bloomberg last week that he will put more money into India saying that the “long-term future of the market is great.”

Veteran emerging market investor Mark Mobius isn’t deterred by the recent slump in Adani company shares and calls it an ‘Adani problem’ and not India’s. He said he remains bullish about India’s prospects calling it ‘incredible’.

Mobius reiterated his optimism about India. Mobius told Bloomberg last week that he will put more money into India saying that the “long-term future of the market is great.”

“It’s an Adani problem. India is still going to go from strength to strength. It’s an incredible country with incredible prospects. I think it’s just one of the typical scandals you get in capital markets and it’ll pass,” Mobius told Bloomberg.

On the now-scrapped Adani FPO, he said, “We were not interested in Adani companies because they did not meet our investment criteria, particularly as regards to debt.”He added that his investment fund usually focusses on smaller companies.