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Indias capital market liquidity is probably second only to that of the United States, with regulatory changes, improved infrastructure and greater openness to foreign investment helping accelerate the countrys growth, Blackstone President and Chief Operating Officer Jonathan Gray said.
Speaking during a panel discussion titled The End of Predictability at Bloomberg New Economy 2026, Gray said Indias investment environment had improved significantly over the past two decades, allowing more companies to list in the country and attracting foreign capital. The liquidity in the Indian market is probably second to the United States today, Gray said, highlighting changes in capital market rules introduced by the government. He said the progress was particularly significant given that many industries had been largely closed to foreign investors two decades ago. 20 years ago, most industries, we couldnt even invest in and whats happened as a result of that is a real acceleration in growth, so its a very positive sign for this place, Gray said. Gray also pointed to improvements in physical infrastructure and dispute resolution, saying these developments, along with the government's welcoming approach towards foreign investment, had strengthened India's investment climate. His remarks come amid broader discussions at the panel on the factors likely to shape global economic growth and investment decisions, including technological disruption, geopolitical conflicts and government debt. During the discussion, Gray identified technology as a defining force for the current era, with artificial intelligence and superintelligence expected to transform consumers, businesses and governments. He also said governments facing fiscal constraints could support growth by making it easier for foreign capital to enter their economies through simpler rules, greater clarity and more reasonable tax policies. Gray said, Blackstone would focus on electricity, digital infrastructure, defence and life sciences as AI adoption expands into physical applications. He highlighted the growing electricity requirements of technologies such as autonomous vehicles and robots. The panel also featured Tata Sons Chairman Natarajan Chandrasekaran and former UK Prime Minister Rishi Sunak, who discussed the economic and geopolitical risks facing the global economy. Grays assessment suggests that continued improvements in market rules, infrastructure and the investment environment will remain important for India as it seeks to attract foreign capital and sustain economic growth. (ANI)
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