US private equity group Blackstone CEO Stephen Schwarzman expressed strong optimism about India’s data centre industry, terming it a high-growth segment. He made the remarks during his recent visit to Mumbai.
Speaking to Moneycontrol in an exclusive interview with Network18's Group Consulting Editor Bodhisatva Ganguli, Schwarzman said Blackstone is the world’s largest developer and owner of data centres and sees significant growth here.
"This is just the start of the data centre industry for India, and we can see very substantial growth,” he said.
According to ratings agency ICRA, India's operational data centre capacity is expected to rise to 2,000-2,100 MW by March 2027 from around 1,150 MW as of December 2024, requiring an investment of Rs 40,000-45,000 crore over FY25 and FY26.
Schwarzman highlighted US private equity group's focus on energy transition investments, which are crucial for powering data centres. "Along with the energy that’s needed to run data centres, we call it energy transition investing. It’s a big focus here," he noted.
He also spoke about the rapid advancement of artificial intelligence (AI), stating that its global adoption is driving remarkable growth. "The growth numbers are stunning in the rest of the world," he added.
Schwarzman further revealed that Blackstone aims to double its total investment exposure in India to $100 billion. "We spend our time building businesses in India to make India better. We are rapidly growing here. We are the largest foreign company in the country and the largest private equity firm," he said.
Reaffirming Blackstone’s confidence in India, Schwarzman described the country as a promising market for alternative investments. “We are very bullish on the future of the country,” he added.
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