JPMorgan Securities Plc, a UK unit of JPMorgan Chase & Co., secured a license for a new branch in India. The location is the Gujarat International Finance Tec-City (GIFT City).
The new unit will facilitate trading of equities, derivatives, and other financial instruments. This expansion allows JPMorgan to leverage the low-tax international financial hub.
JPMorgan's expansion underscores the growing traction of GIFT City. The hub has also attracted major global banks, including HSBC Holdings and Standard Chartered. The Indian government drives this initiative to draw in global capital and financial services.