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* Says unlikely to enter autos sector in India
* Says has succession plan at Berkshire
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MUMBAI, March 23 Billionaire Warren Buffett, who
is looking to invest in large countries such as China, India and
Brazil, said on Wednesday he expected global output to rise
"significantly" over the next year.
On his first visit to India , the 80-year-old U.S.
investor said he was unlikely to enter the country's
automobil e market, which is one of the world's fastest
"It's unlikely I would go into that (autos) myself. For one
thing, the ownerships are pretty well established in that
field," he said in an interaction with executives on India's
His Berkshire Hathaway Inc holds a 10 percent stake
in BYD Co Ltd , a Chinese car maker that also makes
rechargeable batteries and cell phone components.
Buffett, who is yet to name a successor to take over his
$200-billion empire, skirted questions on his succession plan
but praised Berkshire veteran Ajit Jain for smoothly running
much of the company's insurance business.
"We have a clear succession plan at Berkshire Hathaway, we
just haven't announced it yet," he said.
Buffett was in Bangalore to visit the local arm of TaeguTec,
a unit of Israeli metal-cutting tool maker ISCAR Metalworking,
in which Berkshire has a majority stake.
Ranked the world's third-richest man by Forbes magazine, he
is also in India to launch Berkshire's insurance selling portal
and is scheduled to meet policyholders in New Delhi later this
week in an event advertised as "Wit, Wisdom, Warren".
Earlier this month, Berkshire marked its entry into the
insurance sector in Asia's third-largest economy as a corporate
agent for India's Bajaj Allianz General
On Tuesday, Buffett had said he was looking to invest in
large countries, but added that restrictions on foreign
ownership in India's insurance industry could act as a deterrent
in the sector.
(Reporting by Neha Singh and Bharghavi Nagaraju; Editing by