Ex-Banker Who Built Financial Empire Warns of India’s Complexity

As interest grows in India as a bigger driver of the world economy, one of its best-known finance entrepreneurs warned the country is complex, volatile and only yields success to those prepared to commit for the long haul.

“India is not a straight road,” said Rashesh Shah, who founded Edelweiss Financial Services Ltd. in 1995 and built it into a roughly $770 million group. “It’s not like you can take the US business model and just transport it,” he said in an interview in Mumbai. India “requires investment and patience. You’ve really got to have a 10 to 20-year ...