economy
February 5, 2026
Why Asia's richest man and BlackRock CEO want Indians to pick equities over gold
Indians are among the leading buyers of gold in the world, but the country has been seeing increasing financialization of savings, with mutual funds growing in popularity.
TL;DR
- BlackRock CEO Larry Fink and Reliance Industries Chairman Mukesh Ambani encourage investment in Indian equity markets over gold.
- They argue that stock market investments offer compounding returns, while a large portion of domestic savings in gold and silver are unproductive.
- Reliance and BlackRock have partnered to launch mutual funds in India, with Jio BlackRock Asset Management seeing significant assets under management.
- India is projected to be the fastest-growing major economy, with Fink predicting Indian equity markets will 'double and triple and quadruple' over the next 20 years.
- Despite recent underperformance and foreign investor net selling, rising domestic participation, particularly through systematic investment plans, has supported Indian markets.
- While the MSCI India Index has lagged the MSCI Emerging Markets Index in the last year, it has outperformed over a 5-year period.
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