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Jim Rogers, an American businessman, investor and author, has sold all his India shares and exits India as he found nothing new from the National Democratic Alliance (NDA) government. He says one can’t invest just on hope and sold all holdings in Indian companies.

Disappointed chairman of Rogers Holdings felt the Narendra Modi government failed to live up to the expectations of the investors and belived Indian market lacks any new drivers. However, he said that he may return back to India at some stage incase Modi government starts doing things, or even if the markets go down a lot.

Jim Rogers, Commodities trading guru and hedge fund manager, said in an interview that, “I am sure Modi is a smart guy, he enjoys good press, and he makes a lot of friends for India. But I, as an investor, after almost a year-and-a-half, have decided to move on to other places, partly also because stock markets are not going to be particularly good for the next year or two.”

"If Modi made the currency convertible, if he made the markets open to outsiders, then I would have to be back in India again," Rogers said.

“In history, India has been one of the great agricultural nations of the world—you have the land, the people, weather—God gave you everything. And then, he also gave you Delhi to mess it all up.”

-Sumana