Next 20-25 years will be era of India, says BlackRock CEO Larry Fink

The next 20-25 years will be the era of India, which over the next decade or more is going to grow at 8-10 per cent, BlackRock CEO Larry Fink said on Wednesday.

Speaking at a fireside chat with billionaire Mukesh Ambani on 'Investing For a New Era', the CEO of the US multinational investment management company said India is the country he would want to invest.

"In the era for India, our focus is to explain people what it means to be the 'Era of India'. When you think about the growth of India... It's not a quarter, it's not a day or week, it's not a year, it's a long horizon. And you can say maybe this is the era for India and over the next 20-25 years," he said.


Also Read| India can become largely energy self-sufficient with tech breakthroughs: Mukesh Ambani

India, he said, has less need for the importation of capital.

"I do believe the combination of importation of capital from foreign investors who believe in the era of India, but the fundamental foundation of any country is having the domestic economy being built on the back of retirement savings," he said.

He went on to say that India over the next 10-plus years is going to grow from 8-10 per cent. "That is where I want to invest and encourage Indians to invest in."

Praising the Modi government, he said digitised rupee has transformed commerce in the country. "Across the board, I am very worried about other countries, even the United States is falling behind," he added.

He said there is a need to get more people to invest in the capital markets, to grow as the country grows.

"We need to be compelling people to think about the horizon of investing over a long period of time, to grow with great companies of India, to be a part of that and to participate in that," he said.

Fink further said he does not believe in the "AI bubble". "The greatest risk is that if we don't invest in AI, China will win."

AI is among the most topical conversations because it is the most disruptive, he added.