‘Not only a great leader...’: Mark Mobius pitches Prime Minister Narendra Modi for Nobel Peace Prize

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

Speaking exclusively to IANS, the 88-year-old Mobius emphasised that PM Modi’s leadership could play a crucial role in fostering peace, particularly amid global conflicts such as the ongoing war in Ukraine and the 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 because he can engage with all sides of the political spectrum, making him a potential key peacemaker,” Mobius said.  

Mobius, widely recognised for pioneering the first emerging markets fund, believes PM Modi has the capacity to bridge divides 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 in global issues positions the country well to mediate peace efforts. “India is in a very good position to act as a global mediator, and PM Modi is extremely well-qualified to take on such a role,” he said. 

Despite India’s neutral stance in the Russia-Ukraine conflict, PM 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 relations in 1992 — underscored India’s active involvement in promoting peace. 

When asked about similarities between him and PM Modi, Mobius reflected on their shared focus on the future and their optimistic outlook on global developments. 

On India’s economic prospects, Mobius highlighted that the country is at a pivotal moment of development, driven by a youthful demographic, increasing productivity, the digitization of the economy, and expanding infrastructure. “India is in a take-off stage, and in the years ahead, it will become a major global economy,” he said.  

India continues to be the world’s fastest-growing major economy, with both investment and private consumption driving growth. The IMF has forecast GDP growth of 7 percent for FY25 and 6.5 percent for FY26. Mobius praised PM Modi’s initiatives like ‘Digital India’ and ‘Make in India’ for maintaining economic momentum. 

However, he also emphasised 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 the growth story remains intact,” Mobius said.  

The Reserve Bank of India (RBI) projects real GDP growth of 7.2 percent for FY 2024-25, with strong prospects for private consumption, particularly in rural areas, thanks to improved agricultural conditions and moderating inflation. Mobius noted that the stock market’s performance reflects the broader economic growth, although he cautioned that short-term corrections are inevitable. “The overall bullish trajectory is intact,” he added. 

Mobius highlighted the rising aspirations of Indian consumers, with per capita incomes increasing, noting that India’s consumer market is becoming a major economic driver. “The consumer market will be crucial for India’s future. Similar to what we’ve seen in the US, 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 — over 7 percent in real terms — combined with rising per capita income, puts the country on a trajectory to become the world’s largest economy in the future. 

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