JPMorgan to double GIFT City business as US$ 1 billion book expands
- IBEF
- September 24, 2026
JPMorgan Chase & Co. is planning to double its business at Gujarat International Finance Tec-City (GIFT City) over the next couple of years, highlighting the growing importance of India in the bank’s international expansion strategy. JPMorgan has operated its GIFT City branch since 2022 and currently serves a few hundred clients, with its business book close to Rs. 9,500 crore (US$ 1 billion). The bank is expanding its offerings beyond trade finance and foreign exchange to include liquidity and payment solutions, strengthening its ability to serve corporate and institutional clients. Its GIFT City Banking Unit provides loans, risk management, working-capital and investment solutions to India-based and international clients, including overseas subsidiaries of Indian companies, multinational corporations, GIFT City-based banks and corporates, overseas financial institutions and multilateral agencies. The expansion comes as GIFT City gains importance within JPMorgan’s broader India strategy across corporate banking, payments, investment banking, capital markets and cross-border financial services.
JPMorgan is also strengthening its cross-border payments and treasury services in India, including through its collaboration with the National Payments Corporation of India on international payments. The bank recently partnered with the National Payments Corporation of India to enable real-time foreign-exchange conversion and settlement for international Unified Payments Interface transactions, supporting more transparent and efficient overseas payments. The development could further connect India’s digital payments ecosystem with JPMorgan’s global payments network as Indian companies expand internationally, and multinational corporations increase their operations in India. The bank’s broader India strategy also includes opportunities arising from outbound mergers and acquisitions, with JPMorgan indicating that outbound M&A by Indian companies is on pace for a record year in 2026, with nearly Rs. 2.28 lakh crore (US$ 24 billion) in deals already recorded. Increasing overseas acquisitions by Indian companies to secure supply chains and access strategic resources could create opportunities across JPMorgan’s investment banking, financing, markets and payments businesses.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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