Mukesh Ambani-Larry Fink conversation highlights: BlackRock CEO speaks on 'Era of India'; RIL Chairman says 'We shouldn't be scared of AI'

Blackrock CEO Larry Fink in his message to young Indians said, "Believe in your own country, grow with your country."

RIL Chairman said that access to investment is difficult, but every Indian should demand it to benefit from the power of compounding. "Money in a bank account lying in simple interest is not compounding. Money in stock market is compounding. India has an efficient market," he added.

"To my mind, the Indian opportunity is genuinely a new era. People will die for 10% YoY growth, said RIL Chairman Mukesh Ambani. He added that India needs to continue with its savings mindset, and not a deficit mindset.

"We want to invest with the people who have ambition, who have the guts to do things that, that break the mold and that changes society like Mr Ambani," said Blackrock CEO Larry Fink. "Be a global reader of what is going on but we are going to mitigate those things. That's the message of long-term optimism," he added.

"The markets are honest, there are days when the markets may miscalculate. Markets are a great mirror of what's really going on. But markets are bigger than any individual and economy," said Blackrock CEO Larry Fink. "People get so confused about politics. But the beauty of markets is that they are an honest reflection of global economies over the long run. I get actually excited by all the things you read in newspapers because we're talking about those issues, and generally we mitigate, most of the things that are on front pages," he added.

"India adapts to tech better than others," says RIL Chairman Mukesh Ambani. He added that we shouldn't be scared of AI. "It is exactly like when the industrial revolution came, humanity moved forward, productivity moved further," he said.

"India is more accepting of technologies than many of the developed countries. And so because of the large scale population AI is going to have, is going to create jobs and disrupt jobs. It was a wonder to watch the digitization of the rupee. And so to me, AI is going to be a powerful growth engine in the world," said Blackrock CEO Larry Fink.

RIL Chairman Mukesh Ambani said that he is believer that we have to embrace tech. "AI is real and India POV it is hugely advantageous," he said.

"AI is going to allow more discovery. The key for AI to be successful is that we need AI to expand and broaden economic success. In so many developed economies there are so many deficits. Can AI increase producitvity and if so, can we increase GDP with a diminishing population? That's going to be the question. I believe that is going to be a profound yes. India is at the nexus of this," said Blackrock CEO Larry Fink.

'I don't believe there is an AI bubble. The greatest risk is that if we don't invest in AI, China will win," said Blackrock CEO Larry Fink. AI is among the most topical conversations we are having now because it is the most disruptive, he added. This comes amid a massive global tech selloff after the launch of Anthropic's new AI legal tool.

RIL Chairman Mukesh Ambani sees India outgrowing the world. "I think that the Indian opportunity stands at $4.5 trillion in 20-30 year period will outgrow rest of world. In the next decade, India will be reasonably self sufficient in energy," he said.

"We are not going to be behind the word when it comes to technological infrastructure," he added.

"Disruption does not occur if you set a target. To me disruption is the process - a process you have to earn every day, live every day. And if you do that properly, and you embed that in the culture of the firm, you can be disruptive, but you can't be otherwise," said Blackrock Chairman and CEO Larry Fink.

"Indians have saved consistently over the last five-six decades, but that has not been productive. For us at Jio-Blackrock, the opportunity is to encourage Indians to save and give them the option to convert those savings into earnings," said RIL Chairman Mukesh Ambani.

"Larry told me that at the end of the day, purpose of Blackrock is not to just make short term result or not even to make returns for my investors and my shareholders, if I cannot put this money to work first for the betterment of society and as a byproduct I give my investors and shareholders returns, then I wouldn't have done my job. And that is the Reliance philosophy too," said RIL Chairman Mukesh Ambani.

"World is taking notice of India. We are now setting the foundation for many, many decades, the world sees that," says RIL Chairman Mukesh Ambani.

"India, and the tree of the Indian economy is bearing the fruit with great visibility, with sustainability and abundance," says RIL Chairman Mukesh Ambani. "We've also had policy that was sustainable. We've continuity in policy. We have also been conservative. Startup industry excites me the most," he added.

"I can clearly see a 100 new Reliances coming up in the country," he further said.

"I agree that India over the next 10 + years is going to grow from 8-10%. That is where I want to invest and encourage Indians to invest in," said Blackrock Chairman and CEO Larry Fink.

"India has less need for the importation of capital, and I do believe the combination of importation of capital from foreign investors who believe in the era of India, but the fundamental foundation of any country is having the domestic economy being built on the back of retirement savings," said Blackrock Chairman and CEO Larry Fink.

"When you think about how the Modi administration digitized the rupee and how it transformed commerce in India across the board, I am very worried about other countries, even the United States is falling behind," he added.

"In the era for India, our focus is to explain people what it means to be the "Era of India". When you think about the growth of India, it's not a quarter, it's not a day or week, it's not a year, it's a long horizon. And you can say maybe this is the era for India and over the next 20-25 years. We need to get more people to invest in the capital markets, to grow as the country grows and participate in that. We need to be compelling people to think about the horizon of investing over a long period of time, to grow with great companies of India, to be a part of that and to participate in that," said Blackrock Chairman and CEO Larry Fink.

"You can see with your own eyes the opportunity in India - human capital, infrastructure and technology. There are very few places like this - it is unparalleled anywhere in the world," said BlackRock COO Rob Goldstein.

"For the next decade, there is room for human stock pickers and the AI. What's important about investing, is that part of it is art, and part of it is science. What we have been able to transport to India is leveraging AI and human intuition," said BlackRock COO Rob Goldstein.

The first few months were a test of the direct approach in mutual funds, said Jio Financial Services’ Chairman KV Kamath. "India has come of age where they are willing to experiment with technology," he added, explaining that COVID-19 pandemic had taught everyone to use tech to make financial transactions.

"I think many more people in India need to enter the market and take advantage of compounding returns. There's no reason why. As we look forward one year, three years, five years, there is not doubt there can't be many millions of Indians benefiting from the capabilities of Jio BlackRock," said BlackRock COO Rob Goldstein

"The real miracle of investing is that compounding of return. The opportunity of bringing methods that are common in other parts of the world and the scale that India provides... is a very exciting opportunity for us," said BlackRock COO Rob Goldstein. "Many more people in India, need to enter the capital markets," he added.

"The Mutual Fund Industry is defenitely going to double. If you believe that India is going to become the third largest economy in the world, I think we'd all agree that the capital markets need to grow. I think we'd all agree that the mutual fund industry needs to be a lot bigger than under a trillion dollars, which it is today. The opportunity is just beginning," said BlackRock COO Rob Goldstein .

"In India today, there is the combination of technology that we're able to bring through BlackRock and importantly, the distribution reach and brand of JIO.. bringing those two together enables us to really deliver something unique to the market here," he added.

"There will be reallocation of money from savings to investments. Mutual fund investments in India will more than double in next five years," said Jio Financial Services' Chairman KV Kamath.

The exclusive conversation with CNBC-TV18 will begin from 3.45 pm onwards, according to the business new channel.

Reliance Industries (RIL) shares rose nearly 1% to trade at Rs 1,451 apiece.

Reliance Industries (RIL) Chairman Mukesh Ambani and Blackrock Chairman and CEO Larry Fink are set to engage in an unmissable conversation with CNBC-TV18. The two industry leaders are expected to bring together perspectives on how the future of investing is being shaped in India.