New Delhi, Oct 22 (IANS) Blackstone President and Chief Operating Officer Jon Gray has called India one of the most attractive investment destinations in the world, describing it as “the fastest-growing country”.
Speaking at an event, Gray praised India’s strong economy, growing middle class, and major push in infrastructure development, calling it a “compelling long-term opportunity” for global investors.
Gray highlighted three areas that he believes hold the strongest investment potential — real estate, secondary markets, and India.
He said that despite facing challenges over the last few years, commercial real estate is now entering a favourable phase.
“It’s been three and a half very tough years for commercial real estate, but now a good dynamic has taken over. New supply has dropped by nearly 70 per cent, costs are coming down, and assets have been repriced. This is the time to be an investor in commercial real estate,” Gray said.
He also pointed to secondary markets as a growing opportunity, noting that the industry has expanded significantly from $23 billion to $200 billion over the last 15 years.
“Some worry that this has gotten too big, but it’s still just one and a half percent of total assets under management. We believe discounts and opportunities in secondaries will continue to persist,” he explained.
When speaking about India, Gray said the country stood out for its resilience and potential.
“This is the fastest-growing country. There’s been some geopolitical tension recently, but India is investing heavily in infrastructure and has a rapidly rising middle class. This is a place we particularly like,” he said.
His comments come shortly after the International Monetary Fund (IMF) revised India’s GDP growth forecast for the current fiscal year to 6.6 per cent, up from its earlier estimate of 6.4 per cent.
The IMF said India’s strong domestic growth was helping offset the impact of US tariffs on its exports.
It expects the Indian economy to grow by 6.2 per cent next year, according to its latest World Economic Outlook.
–IANS
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