Reliance Industries Chairman Mukesh Ambani on Tuesday projected India's economy could grow from $4.5 trillion to $25-30 trillion within 20-30 years during a Mumbai event hosted by his Jio-BlackRock joint venture with asset manager BlackRock.
The forecast centers on infrastructure development and energy self-sufficiency rather than digital assets.
Ambani discussed reducing India's 80% energy import dependency within a decade through unspecified technological breakthroughs.
BlackRock CEO Larry Fink joined Ambani at the "Investing for a New Era" event to promote their mutual fund partnership. The venture offers app-based investment services for traditional stocks and bonds.
What Happened
Ambani outlined investment themes requiring "hundreds of billions of dollars" in physical infrastructure for India's 1.4 billion population. He characterized these as "long-term, sustainable, compoundable opportunities" needing capital from domestic and international sources.
The comments came as Jio-BlackRock launched an investment advisory platform targeting India's 139 million individual investors.
The 50:50 joint venture raised $2.1 billion across three debt mutual fund schemes since regulatory approval in May 2025.
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Why It Matters
India's wealth management assets could reach $2.3 trillion by 2029 from $1.1 trillion in 2024, according to Deloitte India estimates cited by Bloomberg. The country added 10-fold more individual investors since 2019, creating competition among asset managers.
Ambani and Fink promoted converting savings from gold and bank deposits into capital market investments. Neither mentioned cryptocurrency, stablecoins, or blockchain technology during the discussion focused on conventional financial products.
The event highlighted India's 8-10% annual growth projections without addressing digital asset adoption or crypto market development in the world's most populous nation.
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