NEW DELHI: Hyderabad-born Prem Watsa, chairman of Fairfax Financial Holdings, with assets of around $100 billion, has always been upbeat on India and its growth prospects.The Hyderabad Public School alumnus went to IIT Madras before pursuing an MBA in Canada, despite clearing the IIM entrance test.Watsa, now 75, was once apprehended by the police while rushing to make it to a job interview at Confederation Life as there was a bank robbery nearby. But he managed to get a job before moving to Gardiner Watson 11 years later. In 1984, Watsa and Tony Hamblin, his former boss at Confederation Life, set up Hamblin Watsa Investment Counsel. Fairfax was formed in 1985 after Watsa refinanced a Canadian insurance company and changed the name to Fairfax Financial, derived from the principles of fair and friendly acquisitions.He will have to put the principle to full use as he navigates the transition at IDBI Bank, once a development financial institution.Watsa is a big backer of financial services in India with Fairfax India, set up in 2014, portfolio reflecting that. Of the 13 investments, five were in the BFSI space, comprising 29% of the portfolio.The 75-year-old investor’s latest bet – a 60.7% stake in IDBI Bank for $5.6 billion- will further tilt the balance of the India portfolio towards financial services. Fairfax India’s last balance sheet spoke of the immense opportunity in the sector given low levels of financial inclusion.But it also means that Watsa – often referred to as Canada’s Warren Buffet – and his team will have to rejig the portfolio in line with RBI regulations, including deciding the plan for Catholic Syrian Bank and Go Digit. IIFL Finance, IIFL Capital and 5paisa are also part of the portfolio. Beyond finance, currently, Bangalore International Airport is Fairfax’s biggest bet in India.Watsa is known for value-investing and looking for long-term returns. Fairfax India remains bullish on the economy. “In our view, India remains a land of immense opportunity!” its annual report said.