JPMorgan UK Unit Opens Branch in Gujarat's GIFT City, Boosting India's Financial Hub
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CNBC TV18•21-01-2026, 11:45
JPMorgan UK Unit Opens Branch in Gujarat's GIFT City, Boosting India's Financial Hub
- •JPMorgan's UK unit, JPMorgan Securities Plc, has received a license from IFSCA to open a branch in Gujarat's GIFT City.
- •The new branch will facilitate trading of equities, derivatives, and other financial instruments for clients outside India.
- •This move highlights the growing traction of GIFT City, a flagship project of Prime Minister Narendra Modi, among global financial institutions.
- •Other major banks like HSBC, Standard Chartered, and Mitsubishi UFJ Financial Group already have significant operations in GIFT City.
- •GIFT City aims to become an international trading and lending hub, offering incentives like a 10-year tax holiday, with bank assets exceeding $100 billion.
Why It Matters: JPMorgan's UK unit opening a branch in GIFT City signifies the hub's growing appeal as a global financial center.
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