BlackRock Sees India as a 'Special' Growth Market, Eyes Big Push Through Jio BlackRock

BlackRock's COO, Robert L Goldstein, has praised India's growth, citing its leap in digitization, infrastructure developments, and demographics. Goldstein said India is "remarkable" and "incredibly bullish" on the country's potential. He highlighted the country's role in reshaping the global order and its potential for growth, particularly in demographics and capital markets. BlackRock has over 3,000 employees in India and manages around $100 billion of client capital.

BlackRock's COO, Robert L. Goldstein, has expressed his optimism about India's growth, noting its significant advancements in digitization, infrastructure, and demographics. In an interview with The Economic Times, Goldstein highlighted India's unique market potential and its role in reshaping the global order. He emphasized the country's rapid digitization, which has been facilitated by initiatives like Jio, and its growing middle class, which supports long-term consumer growth.

Goldstein praised India's ability to scale quickly with credible human capital, citing BlackRock's experience since entering the country in 2010. He noted that the company now has about 3,000 employees in India and manages roughly $100 billion of client capital. He is "incredibly bullish" on India's markets, companies, and the Jio BlackRock joint venture, which aims to channel wealth into capital markets more efficiently.

Goldstein pointed to India's infrastructure developments, such as Mumbai's sea-link and coastal road, as game-changers for traffic. He also highlighted the country's demographics, with about 140 million people entering working age over the next 20 years, as a significant opportunity for growth. However, he noted that the mutual fund industry in India is relatively small, with less than 10% of wealth in capital markets, and that there is an exceptional opportunity to deploy capital more efficiently.

Goldstein emphasized the role of technology, including telemedicine, in addressing challenges related to India's ageing population and healthcare gaps. He also noted the potential for AI-driven investing, with BlackRock's Aladdin platform providing transparency and insights into investments at scale.

BlackRock's Jio BlackRock AMC aims to help investors achieve investment outcomes through whole portfolios, blending Aladdin technology, model portfolios, index funds, ETFs, and systematic investing. The company's focus is on managing portfolios using AI rather than human stock-pickers, with a mission to help investors realize their retirement savings goals.

References:
1. [NUMBER:1] https://m.economictimes.com/news/company/corporate-trends/blackrock-coo-says-indias-growth-is-special-as-jio-blackrock-gears-up-for-big-push/articleshow/123236323.cms
2. [NUMBER:2] https://economictimes.indiatimes.com/news/company/corporate-trends/blackrock-coo-says-indias-growth-is-special-as-jio-blackrock-gears-up-for-big-push/articleshow/123236323.cms