Modi in US: 'India has been our best market for investment in the world'
"India is the fastest-growing country now in the world. And we are very optimistic. We have done great (in India). And we are proud of what we have done in India," Blackstone CEO Stephen Schwarzman said.
Blackstone CEO Stephen Schwarzman has said that India has been the company's best market for investment in the world.
Speaking to media persons after his meeting with Prime Minister Narendra Modi in Washington, DC, Schwarzman said his Indian leader about Blackstone's investment in India and plans to further ramp it up.
Schwarzman said that he had informed the Prime Minister that Blackstone had so far invested around $60 billion in assets in India and that over the next five years it had planned to infuse another $40 billion of assets in one of the 10 largest companies in India.
"India is the fastest-growing country now in the world. And we are very optimistic. We have done great (in India). And we are proud of what we have done in India," he added.
While highlighting India's growth story and measures taken for making India an investors' destination, the prime minister said there is huge scope for further expansion of Blackstone's partnership in India.
As per the sources, PM Modi specifically spoke about asset monetisation and bad banks.
"I think it (asset monetisation) is an excellent idea because he (Prime Minister Modi) could take the money from the sales of assets and re-invest it in the country to create employment for the people of the country," the Blackstone CEO said.
He further said that there are some other countries like Australia that have done things like asset monetisation and used that to create more infrastructure to make their country better
Schwarzman further added that India is one of the fastest-growing countries in the world.
He also appreciated the reforms undertaken by the Indian government.
Schwarzman briefed Prime Minister Modi about his company's ongoing projects in India and their interest in further investments in the infrastructure and real estate sectors.
Also discussed during the meeting were investment opportunities in India, including those under the National Monetisation Pipeline and National Infrastructure Pipeline.