'Potential of India is enormous..': Billionaire investor Ray Dalio after meeting PM Modi

Prime Minister Narendra Modi on Tuesday met prominent US personalities from different walks of life, including billionaire investor and hedge fund manager Ray Dalio.

During the meeting with Dalio, PM Modi highlighted reforms undertaken by the government to foster economic growth, including reduction of compliances and decriminalisation of large number of legal provisions.

"Met my friend, the distinguished author and investor @RayDalio. Urged him to deepen investments in India and also talked about the reform trajectory of our Government," PM Modi tweeted.

The Foreign Ministry described PM Modi's meeting with Dalio as "fruitful". "A fruitful meeting between PM @narendramodi and investor, author and co-founder of hedge fund, Bridgewater Associates @RayDalio," ministry spokesperson Arindam Bagchi tweeted.

"PM highlighted reforms undertaken by the government to foster economic growth, including reduction of compliances and decriminalisation of large number of legal provisions," Bagchi said, adding that PM Modi invited the hedge-fund manager for further investing in India.

PM Modi is on a visit to the US from June 21-24 at the invitation of US President Joe Biden and First Lady Jill Biden.

After their meeting, the 73-year-old founder of the world's largest hedge fund, Bridgewater Associates, said Modi is a man whose time has come when India's time has come.

"Potential of India is enormous and you have now have a reformer who has the ability to transform. India and Prime Minister Modi are at a juncture in which lot of opportunities will be created," he said, according to news agency PTI.

Besides Dalio, PM Modi also met Tesla CEO Elon Musk. Musk told reporters after meeting Modi that Twitter, the social media giant he owns, does not have a choice but to follow the local government. Or it will get shut down, he said when asked about the company's former owner and CEO Jack Dorsey's recent allegation against the Indian government.

"The best we can do is to follow the laws in any given country," he said, adding that it is impossible for "us to do more than that".

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