JPMorgan Securities PLC, the London-based unit, secured a license to establish a new branch in India's Gujarat International Finance Tec-City (GIFT City).
The new branch will facilitate the trading of equities, derivatives, and other financial instruments. GIFT City is a special economic zone designed to attract global financial firms through incentives.
This expansion deepens JPMorgan's footprint, following the inauguration of its international banking unit in 2022. JPMorgan joins major global banks, including HSBC and Standard Chartered, in building a presence in GIFT City to capitalize on cross-border financial services.