JPMorgan Aims to Double Operations in India’s GIFT City Financial Hub
JPMorgan Chase & Co. plans to double its business at Gujarat International Finance Tec-City (GIFT) over the next two years, according to Max Neukirchen, Global Co-Head of Payments. The bank has been operating there since 2022 and currently serves hundreds of clients with a book size near $1 billion. JPMorgan is expanding into trade finance, forex, liquidity solutions, and payment services as part of its growth strategy in the financial hub. GIFT City is India’s only international financial center and benefits from tax incentives aimed at attracting global institutions. The bank recently appointed Amit Roy to lead operations there, signaling a strategic commitment to scaling up activities. JPMorgan offers loans, risk management, working-capital financing, investments, fixed-income products, commodities trading, and capital-markets services in the hub.
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