Barclays invests £294m to expand India operations – CityAM : CityAM

Barclays has announced plans to invest more than 30bn rupees (£293.9m) in its India unit to expand operations.

The infusion of capital will enable Barclays, which has operated in the Asia Pacific region for 50 years, to grow its Corporate and Investment Banking and Private Clients businesses.

Barclays offers financing, advisory and risk management services in India through its Investment Bank as well as providing private clients with cash management, trade finance and asset management services. The bank helps to connect international clients to European and US markets.

Jaideep Khanna, Head of Barclays, Asia Pacific and Country CEO, India, said “As economic activity gathers momentum, there is increased demand for capital from clients. We are well placed to support their objectives and remain committed to working closely with them.”

With the investment, Barclays increases the total capital allocated in its India operations to more than 83 billion rupees.

In the first half to 2021, Barclays Group’s profit after tax stood at £4.2bn with approximately 5 per cent of group income coming from activities in markets outside Europe and the US.

“We have ambitious growth aspirations, and the investment will help accelerate that as we look to leverage the attractive opportunities that the present situation offers” Khanna added.

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