Buffett eyes large countries for investment

BANGALORE, India - Billionaire Warren Buffett on Tuesday said he is looking to invest in large countries like India, China and Brazil, but added that restrictions on foreign ownership in India's insurance industry could act as a deterrent in the sector.

Speaking to reporters on his maiden visit to India, Buffett also said the US economy was improving and that the devastating earthquake in Japan would not hurt global growth.

"The American economy is getting better month by month," he said. "The more India prospers or China prospers, the more the United States is going to prosper over the long term," he added.