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JPMorgan to Double India Finance Hub Business in Two Years
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Moneycontrol•22-09-2026, 21:56
JPMorgan to Double India Finance Hub Business in Two Years
- •JPMorgan Chase & Co. aims to double its business in India's GIFT City over the next two years, according to Global Co-Head of Payments Max Neukirchen.
- •The bank is expanding its offerings in GIFT City to include trade finance, forex, liquidity, and payment solutions.
- •JPMorgan's current business in GIFT City is estimated to have a book of close to $1 billion.
- •The bank opened its GIFT City branch in 2022, providing services such as loans, risk management, working-capital financing, investments, and capital-markets products.
- •GIFT City is India's only international financial hub, developed as part of Prime Minister Narendra Modi’s initiative to create a global financial center with tax and regulatory incentives.
Key Questions Answered
JPMorgan plans to double its business at GIFT City, India's only international financial hub, over the next couple of years. The bank is expanding into trade finance and forex while adding payment and liquidity solutions to a business that currently has a book close to $1 billion.
JPMorgan opened its branch at Gujarat International Finance Tec-City (GIFT City) in 2022. In June, the bank appointed Amit Roy, a senior executive from its London office, to head the branch.
The branch offers a range of services including loans, risk management, working-capital financing, and investments, alongside fixed-income, commodities, and capital-markets products.
