India's growth story is a multi-decade opportunity: BlackRock's Larry Fink

Economic momentum of the country is being driven by policy stability, sustained infra investment, and rising confidence among entrepreneurs and households, says Mukesh Ambani

India has the potential to emerge as one of the defining global growth stories over the next 20-25 years, Larry Fink, chairman and chief executive officer (CEO) of BlackRock, the world’s largest asset manager, said on Tuesday, urging investors to view the country’s trajectory through a long-term lens rather than short-term market or geopolitical developments.

 

“When I think about India, I don’t look at it through a quarterly or even annual lens. This is a long-term horizon. India’s growth story is not about days, weeks, or even a single year — it’s about decades,” he said. Over the next two to two and a half decades, India could become one of the world’s most important growth engines, he added. 

 

Fink emphasised the need for broader participation in capital markets to ensure that domestic savings support India’s expansion and reduce excessive reliance on foreign capital. “For any country, the foundation of growth is domestic capital — retirement savings and long-term household investments. That is what ultimately transforms economies,” he said.

 

Echoing similar optimism, Mukesh Ambani, chairman and managing director (CMD) of Reliance Industries, said India’s economic momentum was being driven by policy stability, sustained infrastructure investment, and rising confidence among entrepreneurs and households.

 

“India today is a tree laden with abundant fruit,” Ambani said, adding that sustained economic growth of 8-10 per cent was “possible and doable”. He attributed this to stable leadership, fiscal discipline, and continuity in policymaking, including investments in roads, power, renewables, and digital connectivity.

 

Highlighting India’s technological leapfrogging, Fink pointed to the digitisation of the rupee, widespread smartphone adoption, and the rollout of 5G as structural shifts are reshaping commerce, consumption, and education. “The dispersion of technology at scale in India is what is truly inspiring,” he said, noting that the country has emerged as a global leader in digital public infrastructure.

 

Ambani also highlighted growing confidence among young entrepreneurs and startups, and said India has the potential to create 100 Reliance Industries.

 

“What excites me the most is the confidence of the younger generation — the belief that tomorrow will be better than today,” he said, calling the shift in mindset a significant change for India.

 

On financial markets, Ambani said India remained a nation of savers, but a large share of household savings was still parked in unproductive assets such as gold and silver. Channelling these savings into transparent and well-regulated capital markets could allow them to compound and support economic growth, he said.

 

Both business leaders also underscored the importance of sustained investment in the equities market to play the India growth story.

 

Fink said artificial intelligence (AI) is not s bubble and cautioned that under-investment in AI posed a greater risk than short-term volatility.

 

“AI will touch every part of the economy. Countries and companies that fail to invest will fall behind,” he said, adding that India’s scale and talent base position it well to benefit from the technology.

 

Jio Financial Services and BlackRock have formed a 50:50 joint venture, Jio BlackRock, which has offerings across mutual fund, wealth management, and broking for the Indian consumer.

 

The partnership aims to leverage Jio's digital infrastructure with US-based BlackRock's global investment expertise.