BlackRock entered Indian retail asset management through a joint venture with Jio Financial Services. The venture runs a mutual fund business aimed at digital first investors.
Ownership and structure
BlackRock holds 50 percent of Jio BlackRock Asset Management, a joint venture with Jio Financial Services.
What India does for BlackRock
India is an asset management market that BlackRock serves through its joint venture with Jio Financial Services.
BlackRock's India business
BlackRock and Jio Financial Services announced a 50:50 asset management joint venture in July 2023. Jio BlackRock received SEBI registration in May 2025 and began operations that year.
By January 2026 the venture had one million investors and more than ₹13,700 crore in assets under management.
Key moves in India
- 2008: BlackRock agreed to acquire Merrill Lynch's 40 percent stake in DSP Merrill Lynch Fund Managers, which became DSP BlackRock.
- 2018: BlackRock agreed in May to sell its 40 percent stake in DSP BlackRock to the DSP Group.
- 2023: BlackRock and Jio Financial Services formed a 50:50 asset management joint venture in July.
- 2025: Jio BlackRock received SEBI registration in May and began operations.
- 2026: Jio BlackRock reached one million investors and more than Rs 13,700 crore in assets under management by January.
Where it operates
BlackRock has a presence in Mumbai.
At a glance
- Home country: United States
- Global headquarters: New York
- Sector: Banking & Financial Services
- Business: Asset management
- Role of India: Sales market, Financial services franchise
- India entity: Jio BlackRock Asset Management
- India offices: Mumbai
- India headcount: Not available
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