‘Fascinated by the growth potential’: Mark Mobius travels across India for a month; visits 9 cities

Investment guru and founder of Mobius Capital Markets, Mark Mobius, said that he is fascinated by the growth potential in India. However, to understand a country well, one needs to be there in person, he said. This is what he did when he visited India for a month and headed to nine cities.

Mobius, in a blog, said that he started the trip from Jaipur, then moved on to Udaipur, Mumbai, Hyderabad, Tirupati, Chennai, Kochi, Bengaluru and Goa. The month-long trip, said Mobius, revealed the “incredible depth and variety of India’s landscape”. 

He likened Jaipur to a Wes Anderson movie set, where every corner, he said, seemed to “await a quirky, color-coordinated character”. 

He also lauded the Vande Bharat Express that took him from Jaipur to Udaipur. “At US$30 per person, the ride far exceeded our expectations with comfortable reclining seats, two full meals of delicious Indian food and great service,” he said. 

Mobius reached Mumbai to attend the Morningstar Investment Conference. “I was surprised by the scale and sizable turnout at the conference, which could be an indication of a growing popularity of mutual funds in India,” he said in the blog. He also paid a visit to the newly launched Jio World Plaza. 

While he was at it, he also took an auto ride in Kochi, before he headed to the ‘Silicon Valley of India’, Bengaluru. Mobius also praised the Bengaluru Metro for its cleanliness and the airport. “Leaving Bengaluru I was struck by one of the most beautiful airports in the world,” he said about the Kempegowda International Airport.

The investment guru said that he met many entrepreneurs and software engineers during his trip and was impressed by their attitude to improve the companies they work for. 

“Given my optimism for India's future, I'm often asked about the right time to invest in this market, currently labeled as "overvalued" by some analysts,” he said. He said traditional stock valuation metrics often overlook the future growth potential of many Indian companies as they primarily reflect past performances. Mobius said that investment timing should be focused on solidly growing companies. 

“For newcomers to the investing world, particularly those unable to research individual stocks, I would recommend choosing a well-diversified mutual fund managed by experienced and reputable investment professionals. This approach offers a balanced entry point into the Indian market,” said Mobius. 

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