Blackstone’s COO Jonathan Gray told The Times of India that the U.S. firm will increase its stake in Indian markets from $50 billion to $100 billion within five years, adding private‑equity deals, real‑estate projects and a new infrastructure arm.
The announcement comes as the rupee has slid 17% against the dollar since the start of 2024, prompting a 2.3 trillion‑rupee capital outflow last quarter.
Despite the depreciation, India’s economy grew 8% last year and is projected to hit mid‑teen‑percentage earnings in Q3, giving long‑term investors a cheaper entry point.
Gray highlighted reforms such as the 90% share‑holding delisting threshold and the rapid rise of REITs, noting that a $1.3 billion secondary sale of Knowledge Realty Trust in August marked a milestone.
He also earmarked AI‑driven data‑centres and renewable energy as key growth engines, citing Mphasis’s partnership to deploy AI across its operations, boosting productivity by 40% in diamond grading.
The company will unveil its detailed investment thesis at the Blackstone annual conference in June, signalling a fresh push to re‑attract foreign capital into India’s high‑growth sectors.