He further said that India will continue to outperform the US over 5-10 years. “India has the potential to grow at 5-10% per annum each year and that is huge,” he added.

Marc Faber the author of The Gloom, Boom & Doom Report recently in an interview with CNBC TV18 said that he is against PM Narendra Modi’s demonetisation move. Today speaking to the business news channel, Dr Doom said that PM Modi has better potential to roll out economic reforms than US President Donald Trump. He further said that India will continue to outperform the US over 5-10 years. “India has the potential to grow at 5-10% per annum each year and that is huge,” he added. He also lauded former RBI Governor Raghuram Rajan and Urjit Patel for doing a great job in stabilising the Rupee. “It is the steady currency which is bringing money from overseas into India,” he quipped.

Meanwhile, in a conversation with ET Now earlier this month, he said, “India has done very well in 2017 and is grossly outperforming the US. Even if India grows at only 5%, it is still better than the US, Europe”. Citing a PwC report he said, India would be the second largest economy by 2050. “Outlook for the Chinese, Indian economy for emerging markets, in general, is far superior to the outlook in our rotten western democracies,” he told the business news channel.

He also suggested investing in commodity stocks given the low prices of commodities. Marc Faber preferred to invest in commodity-related plays over financial assets. However, Faber cautioned that each commodity has to be analysed separately. He also pointed out to a positive outlook for copper, as he said that the shift to electric cars will increase demand for the metal. Among other stocks, Marc Faber named real estate, travel & tourism and hotels as the sectors he likes. Faber sees a huge opportunity in real estate on the trend of buying second homes and added that domestic and international tourism will bring the potential for hotel chains, travel companies.

Earlier this year Marc Faber had suggested that the newly-elected US President Donald Trump’s policies are rather good for the emerging markets, contrary to the popular sentiment that such policies will restrict trade from the emerging economies and hurt them. “Everyone makes a big hoopla on the US markets going up this year,” Marc Faber told CNBC’s Squawk Box. “We are up 4.66%, (while) Hong Kong is up 9%, Singapore is up 9%, Mexico is up 6%, and Brazil and Argentina are up 20%,” Marc Faber said to drive home the point that Trump’s policies were “quite good” for the foreign markets.