Wall Street leaders double down on India despite inflation and rupee weakness

Jon Gray of Blackstone described India as the easiest market for IPOs outside the United States, highlighting a recent wave of listings that could push valuations above $100 billion. Wall Street banks, including Citigroup, JPMorgan and Goldman Sachs, have increased staffing and capital commitments, with Goldman noting a rise in advisory fees to 1.86% of IPO value. Private-equity firms such as Brookfield and Blackstone expect to pour more than $100 billion into Indian assets, targeting infrastructure, real estate and logistics despite inflation and currency depreciation.

The government’s digital payments drive and the anticipated Jio Platforms IPO are drawing deep pools of capital from sovereign wealth funds and hedge funds. Meanwhile, the growth of Global Capability Centers and the GIFT City financial hub is reshaping the employment landscape, while regulators tighten oversight of futures and options trading.