India is one of Blackstone Inc’s best-performing markets and will continue to be the private equity giant’s biggest market in Asia, a top company executive on Tuesday, even as rising interest rates force investors to rebalance portfolios.

The U.S-based firm, which manages nearly a trillion dollars in assets globally, is bullish on India due to its faster growth than other large countries and a “government oriented towards growth”, Jonathan Gray, Blackstone’s president and chief operating officer said at a press briefing.

Blackstone said it manages assets worth $50 billion in India, including in private equity and real estate. It has made over a billion dollars in real estate share sales alone in the past year, Reuters has reported.

Gray said Blackstone will also consider investing in Indian infrastructure in the future, a sector where its peers such as KKR and Co Inc as well as pension funds such as CPP Investments Board and Ontario Teachers Pension Plan (OTPP) are already active.

However, India will have to be wary of currency depreciation, which reduces the dollar returns for foreign investors, Gray said.

Reuters