Blackstone plans to double investments in India to $100 billion over the next five years, up from $50 billion. The global alternative asset manager aims to expand its presence across real estate, infrastructure, financial services and other sectors.

In an interview with CNBC-TV18, Blackstone President Jon Gray, outlined the investment target, citing India's growth prospects and opportunities in capital markets.

The firm is also exploring opportunities linked to artificial intelligence (AI), including data centres, cloud infrastructure and computing capacity, CNBC-TV18 reported.

Real estate remains a key part of Blackstone's India portfolio. Gray said its existing investments in logistics, hotels and shopping centres were performing well. The firm also plans to expand in infrastructure and credit, while exploring opportunities in growth equity and private equity.

Gray attributed Blackstone's long-term interest in India to its expanding middle class, infrastructure development and technological capabilities. He also stressed the need for clear and stable policies to attract foreign investors.

“As long as the economy continues to grow, and the government continues to support that growth with policies that give foreign investors certainty and clarity, I think the opportunity set will grow,” he said to CNBC-TV18.

India's capital markets also offer private equity investors opportunities to list portfolio companies and generate returns. Grey said Blackstone has completed 14 initial public offerings (IPOs) in India. The firm has also sponsored five of the country's six publicly listed real estate investment trusts (REITs).

The planned increase in investments comes as Blackstone seeks to deploy capital in businesses and assets that can benefit from India's economic expansion and rising demand for goods, services and infrastructure.