Mumbai – India has emerged as the top-performing market for US-based private equity giant Blackstone, according to its CEO Stephen Schwarzman. In an exclusive interview with Moneycontrol, Schwarzman highlighted India’s rapid growth and its significance in Blackstone’s global investment strategy.
Blackstone Journey in India: From $1 Billion to a Multi-Billion Presence
Reflecting on Blackstone’s early days in India, Schwarzman recalled the firm’s initial investment commitment of $1 billion in 2005. At the time, the announcement was groundbreaking and widely covered by the media.
“When we decided to come here in 2005, we announced that we would put $1 billion into India. People have probably forgotten that 20 years ago, it was a huge number. Now, we are many times beyond what we expected to be. This is because the country is such a great place to operate,” he said.
Future Expansion: Blackstone Aims to Double India Exposure to $100 Billion
Schwarzman revealed Blackstone’s ambitious plans to double its total exposure in India to $100 billion, reinforcing its confidence in the Indian market.
“We spend our time building businesses in India, to make India better. We are rapidly growing here. We are the largest foreign company in the country and the largest private equity firm,” he stated.
Why Blackstone is Bullish on India
Schwarzman cited political stability, regulatory improvements, a young workforce, and a strong focus on technology as key reasons for Blackstone’s optimism.
“We have seen many economic cycles. But we look at the fundamentals of the country—it has excellent stability, strong political leadership, and reduced regulations compared to when we started. India has a vigorous young population and a strong preference for technology. We are very positive about the country’s future,” he added.
Lessons from 20 Years of Investing in India
Schwarzman acknowledged that doing business in India was challenging two decades ago. However, both Blackstone and India have evolved, leading to better investment opportunities.
“Twenty years ago, it was pretty difficult for foreigners to do business in India. We had some investments that didn’t work out. But we learned how to operate here, and the country changed as well,” he noted.
Over time, Blackstone shifted its strategy in India, focusing on owning businesses and leading their growth rather than simply acquiring stakes in companies.
“This is different from how we operate in other parts of the world. But we realized that controlling assets helps businesses grow better in India,” Schwarzman explained.
Blackstone Commitment to India Growth
With plans to increase its total exposure to $100 billion, Blackstone continues to see India as a key pillar of its global strategy. The firm remains committed to driving growth, building businesses, and leveraging India’s economic potential.
As India cements its position as a top investment destination, Blackstone’s bullish outlook further highlights the country’s rising global stature in private equity and alternative investments.
