Ray Dalio compares Modi to Deng Xiaoping, praises India’s growth

Ray Dalio

During a podcast interview at the All-In Summit 2023 in Los Angeles, renowned investor Ray Dalio made comparisons between India’s Prime Minister, Narendra Modi, and China’s former leader, Deng Xiaoping.

Dalio, the billionaire investor and co-chief investment officer of Bridgewater Associates, one of the world’s largest hedge funds, equated Modi to Deng Xiaoping, who played a pivotal role in China’s economic transformation. Bridgewater Associates was founded by Dalio in 1975 in New York.

Dalio expressed his perspective on India’s economic growth potential, asserting that India possesses a remarkable trajectory. He pointed to India’s 10-year growth rate estimates, comparing it to the top 22 nations globally, and noted that India stands out with the highest potential growth rate. He drew a historical analogy to China’s position when he began investing there in 1984.


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Examining various factors like demographics and per capita income, Dalio found Modi to be a Deng-like figure. In his view, Modi exemplifies a strong drive for reform, development, creativity, and other essential elements for growth. While Dalio acknowledged the existence of challenges and risks within India, he remained optimistic about the nation’s prospects. He did not believe these hurdles would significantly hinder India’s advancement.

Dalio cited internal religious issues related to the Muslim population as an example but dismissed them as inconsequential to India’s economic journey. He emphasized India’s overarching importance and potential on the global stage.

In summary, Ray Dalio, a prominent investor, has likened Prime Minister Modi to Deng Xiaoping, highlighting India’s substantial growth potential and its similarities to China’s economic transformation during the 1980s. Despite acknowledging challenges, Dalio remains positive about India’s future economic trajectory, considering it a vital player on the global stage.