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Blackstone Group (BX), the publicly traded private equity firm, has high hopes for India's growth prospects. After announcing a $50 million stake in India-based media company Jagran Media Network, Blackstone revealed that it plans to invnest as much as $3 billion in the emerging market over the next five years."We are bullish on India," said Akhil Gupta, chairman and managing director of Blackstone India, during a telephone interview with Reuters. "We just invested nearly $1 billion in India during the last five years and we believe it could be two to three times [that amount] over the next five years."
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