Veteran investor David Roche said India "is a slow trundling elephant" that still has many hurdles, but is now a viable alternative to China.
"I think India stands to benefit from the decline in terms of the attractiveness of foreign direct investment and portfolio flows of China," Roche told CNBC's "Street Signs Asia" on Friday.
After overtaking China to become the world's most populous nation, India could also leapfrog its neighbor to also become the world's second-largest economy by 2075.
"So I think we're looking at a transfer of not only fixed investment by corporations, but portfolio investments out of China and into India," Roche said.
"I think one has to look to sound the current levels and a note of caution about that," Roche warned.
Persons:
David Roche, " Roche, CNBC's, Roche, Alicia Garcia, Herrero
Organizations:
China, Investors, Economic, CNBC
Locations:
India, China, Asia, Natixis