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JPMorgan Eyes Doubling India Finance Hub Business Within Two Years
JPMorgan Chase & Co. is expanding its operations in India's GIFT City financial hub, aiming to double its business over the next two years.
The bank's Global Co-Head of Payments, Max Neukirchen, stated that JPMorgan has been present in GIFT City for four years and currently has a few hundred clients with a substantial growth in business.
JPMorgan is expanding into trade finance and foreign exchange while adding liquidity and payment solutions to its existing services.
The bank's current business in GIFT City has a book of close to $1 billion, according to people familiar with the matter.