Mumbai: Private equity firm Blackstone Group is looking to invest more than $1 billion in India over the next two years, the Economic Times said on Friday, citing the firm's country head.
"We may make investments of $500-$600 million per year, and in two years may invest more than $1 billion dollars," Akhil Gupta, chairman of Blackstone India, told the paper.
"We are already much ahead of our target of $1 billion in five years and if we continue to find deals, then the allocation for India would also continue to increase," he was quoted as saying.
Blackstone, which recently paid $65 million for a reported 26 per cent stake in Indian engineering firm MTAR Technologies, has said it had a huge pipeline of deals in India.
It has made a series of investments this year, including in apparel firm Gokaldas Exports, $150 million in Nagarjuna Construction Co Ltd and $275 million in regional media firm Ushodaya Enterprises Ltd.
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