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Prime Minister Narendra Modi met with Blackstone Group Chairman and CEO Stephen Schwarzman on Thursday and discussed promising investment opportunities in India, including those of the National Infrastructure Pipeline and the National Monetization Pipeline. Schwarzman briefed the Prime Minister on the ongoing plans of the New York-based alternative investment management firm in India and its interest in further investments in the infrastructure and real estate sectors.

“It was a pleasure to meet Mr. Stephen Schwarzman, CEO of @blackstone. His business success and intellectual prowess are admirable. We spoke about India’s investment potential and why our country is one of the world’s most attractive destinations for investment, ”Modi tweeted.

Schwarzman briefed the Prime Minister on Blackstone’s ongoing projects in India and their interest in further investment in the infrastructure and real estate sectors. Promising investment opportunities in India, including under the National Infrastructure Pipeline and the National Monetization Pipeline, were also discussed, the Foreign Ministry said in a statement.

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Modi, who arrived Wednesday for an official visit to the United States during which he will hold the first face-to-face meeting with President Joe Biden and his deputy Kamala Harris, had one-on-one meetings with the CEOs of Qualcomm, Adobe, First Solar, General Atomics and Blackstone. During the meeting, the Prime Minister said that there is a wide scope for further expansion of Blackstone’s partnership in India and elaborated on the reforms carried out in India. He specifically spoke about asset monetization and Bad Bank, according to sources.
In March of this year, Blackstone announced that funds managed by Blackstone Real Estate had acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group, in one of the largest logistics transactions in India. Schwarzman, Chairman and CEO and Co-Founder of Blackstone Group, one of the world’s leading investment firms investing capital on behalf of pension funds, large institutions and individuals, said India was the best the company’s investment market to the world.

Appreciating the reforms undertaken by India, Schwarzman said he was very optimistic about India’s potential and added that it is one of the fastest growing countries in the world.

(Edited by : Priyanka Deshpande)

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