Not just a great leader…: Mark Mobius offers Prime Minister Narendra Modi the Nobel Peace Prize

Veteran investor Mark Mobius has praised Prime Minister Narendra Modi for his diplomatic acumen and ability to engage with all sides of the global political spectrum, suggesting he deserves the Nobel Peace Prize for his efforts.

Speaking exclusively to IANS, Mobius, 88, highlighted that Prime Minister Modis' leadership could play a crucial role in promoting peace, especially in the backdrop of global conflicts such as the ongoing war in Ukraine and tensions in West Asia.

PM Modi is not only a great leader but also a great human being, a very good person. His international role will continue to grow as he can engage with all sides of the political spectrum, making him a potential peacemaker, Mobius said.

Mobius, widely credited with pioneering the first fund for emerging markets, believes PM Modi has the ability to bridge divisions and help resolve conflicts on the global stage.

The Indiana Jones of emerging market investing further added that India's ability to remain neutral and fair on global issues puts it in a good position to play a mediating role in peace efforts. India is in a very good position to act as a global mediator, and Prime Minister Modi is extremely qualified to take on such a role, he said.

Despite India's neutral stance in the Russia-Ukraine conflict, Prime Minister Modi has consistently called for a peaceful resolution, reaffirming India's commitment to global stability. Notably, his visit to Ukraine in August, marking the first trip by an Indian prime minister to the country since the establishment of diplomatic ties in 1992, highlighted India's active involvement in promoting peace.

Asked about the similarities between him and Prime Minister Modi, Mobius reflected on their shared vision of the future and their optimistic outlook on global developments.

Regarding India's economic outlook, Mobius highlighted that the country is at a pivotal moment in its development, driven by a young population, growing productivity, digitalization of the economy and expanding infrastructure. India is in a take-off phase and in the coming years it will become a major global economy, he said.

India continues to be the fastest growing large economy in the world, with investment and private consumption driving growth. The IMF projects GDP growth of 7% in FY25 and 6.5% in FY26. Mobius hailed PM Modis' initiatives such as Digital India and Make in India for maintaining economic momentum.

However, he also highlighted the need for India to accelerate infrastructure development and improve regulations to support productivity while reducing bureaucratic hurdles. The fundamental drivers of growth, consumption and investment, are gaining momentum and growth remains intact, Mobius said.

The Reserve Bank of India (RBI) forecasts real GDP growth of 7.2% for the financial year 2024-25, with a strong outlook for private consumption, particularly in rural areas, on the back of improving conditions agricultural and moderate inflation. Mobius stressed that stock market performance reflects economic growth as a whole, while warning that short-term corrections are inevitable. The overall upward trajectory is intact, he added.

Mobius highlighted the growing aspirations of Indian consumers, with rising per capita incomes, noting that the Indian consumer market is emerging as a major economic driver. The consumer market will be crucial to India's future. Similar to what we have seen in the United States, a large and growing consumer base will drive economic growth, he observed.

Looking ahead, Mobius sees continued urbanization in India as a key factor in boosting consumption, predicting that India's high growth rate, above 7 percent in real terms, combined with rising income per capita, will put the country on the path to becoming the largest global economy in the world. future.

India's path to greater prosperity is clear and, with continued growth, it could very well become the world's largest economy, Mobius concluded.