BlackRock CEO Larry Fink on Wednesday called the next two decades “the era of India,” saying the country is on track for high and sustained growth and is the market he most wants to support with long-term capital.

Speaking at a fireside chat with billionaire Mukesh Ambani on “Investing for a New Era”, Fink said India’s growth story is not about short cycles, but about staying invested over the long haul.

“In the Age of India, our goal is to tell people what it means to be the ‘Age of India’. When you think about the growth of India… It’s not a quarter, it’s not a day or a week, it’s not a year, it’s a long horizon. And you can say that maybe this is the Age of India and for the next 20-25 years,” he said.

Fink said India has built a strong domestic base and its economic momentum will continue for years. “I think the combination of importing capital from foreign investors who believe in India’s era, but the fundamental foundation of any country is that the national economy is built on retirement savings,” he said.

The American billionaire businessman said that India in the next 10 years or more will grow at 8-10%. “India is going to grow at 8-12% over the next 10 years, probably 8-10%, and this is a place where I would have personally invested and what we need to do is get more Indians to invest,” he said.

Noting the structural changes, the BlackRock CEO praised the Modi government and said the digitized rupee has transformed commerce in the country. “In general, I’m very worried about other countries, even the United States is falling behind. We have to be digitizing. We have to be thinking about how this all unfolds. This is part of the democratization of India. So now India is a leader in this,” he added.

Fink stressed the need to deepen household participation in markets, arguing that broader investment will help Indians grow along with the broader economy. He said India needs more people to invest in the capital markets and urged a change in mindset towards long-term investment.

“We have to force people to think about the horizon of investing over a long period of time, to grow with big companies in India, to be part of it and participate in it,” he said.