JPMorgan Aims to Double India Finance Hub Business Over Next Couple of Years

JPMorgan Chase & Co., one of the largest banks in the world, is planning to double its business in India's GIFT City over the next couple of years. According to Bloomberg, citing Global Co-Head of Payments Max Neukirchen, the bank will expand into trade finance and forex, while adding liquidity and payment solutions.

JPMorgan has been operating in GIFT City for four years now, serving a few hundred clients with a business book of close to $1 billion. The expansion would be a significant increase in the bank's investment in India's only international financial hub.