India has been our best market for investment in the world: Blackstone CEO

INTERNATIONAL DESK: Indian Prime Minister Narendra Modi had a productive meeting with Blackstone chief executive officer (CEO) Stephen Schwarzman as part of his meetings with the global CEOs for potential investment in India, sources said.

In the meeting Modi said that there is huge scope for further expansion of Blackstone’s partnership in India and elaborated on the reforms done in India, sources said.

Modi specifically spoke about Asset Monetisation and Bad Bank.

According to sources, Schwarzman said that he is very optimistic about India’s potential and added that it is one of the fastest-growing countries in the world. He also appreciated the reforms undertaken by India.

India’s been Blackstone’s best market for investment in the world. It is the fastest-growing country in the world now. So we are very optimistic, and we are proud of what we have done in India,” Schwarzman told reporters.

Lauding Modi’s government, Blackstone CEO said, “This is a very friendly government for outsiders, they’re reform-oriented and objective. I would give them an extremely high grade as being good partners for people who like to bring capital into the country to create jobs.”

Earlier today, Indian Prime Minister held talks with Qualcomm CEO Cristiano R Amon and discussed several issues including electronics, and measures to strengthen the innovation ecosystem.

Modi also met with General Atomics CEO Vivek Lall and discussed advancing defence manufacturing, use of emerging technologies and augmenting capacity building in India. He also met with Adobe chairman Shantanu Narayen.

These talks were part of series of meetings that Prime Minister Modi undertook with select heads of corporates that have the potential to invest significantly in India.

Earlier on Wednesday, Modi arrived in Washington for his much-touted US visit.

Later, Modi is scheduled to meet Australian Prime Minister Scott Morrison and Japanese Prime Minister Yoshihide Suga. US President Joe Biden will host PM Modi at the White House on September 24. This is going to be the first in-person meeting between the two leaders after Biden took over as the US President on January 20. (ANI)