Blackstone downbeat on India prospects
The Blackstone Group has turned cautious about opportunities in India, where it says “serious governance issues” threaten to erode investor returns. The firm, which earlier this month bought a majority stake in auto parts maker Agile Electric for $56 million, says the number of deals that qualify for investment has significantly come down.
Akhil Gupta, chairman of Blackstone's Indian unit, told Bloomberg that the current environment - where economic growth is down to the slowest pace in a decade, with higher inflation, higher interest rates,...
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