Mumbai, February 2026 – Larry Fink, CEO of BlackRock Inc., emphasized the importance of Indian participation in the country’s economic expansion, as the world’s largest asset manager deepens its presence in Asia through a partnership with Mukesh Ambani-led Jio Financial Services.
Fink made the call during an event in Mumbai, stating, “If you believe in the era of India, we need to compel hundreds of millions of Indians to invest alongside that growth.” He was joined by Reliance Industries chairman Mukesh Ambani. Fink highlighted that India’s ascent will be driven by both foreign investors recognizing its potential and a robust local economy supported by increasing retirement savings.
With assets exceeding $14 trillion, BlackRock is expanding its footprint in India to capitalize on the burgeoning mutual fund industry, as millions of savers are entering the banking and financial system. Deloitte India projects that assets managed by Indian wealth firms will grow from $1.1 trillion in 2024 to $2.3 trillion by 2029.
Fink also noted that as more Indian families invest in the country’s growth, India will rely less on importing capital.
In a significant development, BlackRock and Jio Financial have established a joint venture, JioBlackRock Asset Management, which has already attracted one million customers and amassed ₹15,100 crore (approximately $2 billion) in assets as of December. This marks BlackRock’s strategic re-entry into India’s fund management sector after exiting in 2018.
Addressing concerns about artificial intelligence, Fink expressed confidence that massive investments in AI will bolster global growth, despite inevitable setbacks and failures.
Ambani echoed these sentiments, highlighting AI’s potential benefits for India and urging widespread adoption. He added that India could meet nearly 80% of its energy needs domestically over the next decade, reducing reliance on imports, as the country remains the third-largest consumer of crude oil globally, currently meeting over 80% of its energy requirements through imports.