Indian Economy Provides New Opportunities To Invest: Blackstone CEO Stephen Schwarzman
There is a slowdown in the Indian economy and lack of finance but there is still an appetite to invest in the country, said Stephen Schwarzman, CEO of Blackstone, the world's largest private equity firm. Mr Schwarzman was speaking at an event organised by the Indian Institute of Technology Bombay (IIT Bombay) and hosted by Infosys co-founder and non-executive chairman Nandan Nilekani. "This economy provides us with new opportunities to invest and we will continue in our path of acquisition," he told reporters.
Blackstone has invested $6 billion in commercial real estate in India over the last 18 months, and is the largest owner of office space in the country.
The company is still bullish on India but from a long-term perspective, he added.
Speaking on the current issues in the Indian economy, the Blackstone CEO said it is about "slowing economic growth and limited credit extension by banking system and that should create more need for owners of companies to look for other sources of liquidity".
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