The decision by rating agency Moody’s to change its outlook on India from stable to negative was a mistake, since the country is enjoying “incredible” growth compared to many other states, veteran investor Mark Mobius has said.

“I think Moody’s call was erroneous, I don’t think it was called for because I see tremendous growth coming in India going forward,” Mobius, the emerging markets fund manager and founding partner of Mobius Capital Partners LLP, told CNBC. “I believ