An Interview with Mark Mobius

Via Controlled Greed an interview with legendary emerging markets manager Mark Mobius:

MONEYWEB: Hmm. And the other story to come out of Davos this year was India, which is sending a signal to the world that it’s not just a service hub, it’s not just there for outsourcing, but it too wants to get involved in a big way in manufacturing. Your reading of that one?

MARK MOBIUS: Yes, the Indians do want to do more manufacturing, but I’m afraid they are going to have to make some very dramatic changes in the labour laws to begin with, and in the licensing programmes that they have in India. As you know, the Indian government has a very complex licensing system which puts a lot of barriers in the way of expansion in the manufacturing sector. And of course our labour laws also restrict people. So I think there have to be some fundamental changes in their thinking before they can match China in that regard. Of course in some specialty areas [indistinct] fine, but generally speaking they have to make some big changes.

MONEYWEB: Mark, there are tens of thousands of shares listed on the various Indian stock exchanges. One of the posters that they had in Davos said 90 companies worth a billion dollars or more. Are there any companies in India that you are invested in?

MARK MOBIUS: Yes, we’re invested in India. In fact, we have a few domestic funds in India, selling to the Indians. We have about $3.5bn in management in India for Indians managing India and in addition our global funds have investment in Indian stocks.

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１０日が初出席となる大阪府の松井一郎知事は、安全確認を前提としながらも「被災地は大変な状況。日本中で支えなければいけない」と受け入れに前向きな発言をしている。

　ティンバーランド一方、９月の台風１２号による紀伊半島豪雨で発生した大量のがれき処理が問題となり、他府県の応援を受けている和歌山県は、東日本大震災の被災地を支援する余裕はなく、担当者は「受け入れ可能な状況にはない」。