Kaustubh Kulkarni, Senior Country Officer, India and Vice Chairman, Asia Pacific at JPMorgan, recently revealed that the company's India business has grown by four times in the last few years. He further stated that the bank works with 800 companies of different sizes.
"I think our scale of the business has grown by four times in the last few years. We are hoping to again grow in a meaningful manner in the next few years but today we work with about 800 different companies of different sizes. That number for us let's say even in 98 or 99 would be 20 so the scaleup that we have managed to do with the teams and businesses on the ground and all the other parts of the business on the revenue side is meaningfully different today than what it was years ago," he said during a podcast.
"Then on the corporate centre side, which is our JPMorgan corporate centres, we have a very large workforce which does super exciting cutting edge development work for us. That's another big initiative for JPMorgan in India," he added during the Masters' Union podcast.
Kulkarni further spoke about the strategy to ride the India wave and said that JPMorgan aims to be an important partner in the growth story of companies. He said that as more domestic companies continue to increase and more multinational companies continue to scale up their business in India, JPMorgan will be an important partner as a part of their journey too.
The India story:
In the podcast, Kulkarni also shed light on the India growth story and said that the aspiration of the population in India today it is to achieve, do and contribute. "It is not to oh how can I work for 30 hours a week which is where you see as a fundamental question in many parts of the world," he said.
"The biggest thing in India is that the spend is going to cascade to a much larger portion of the population which will create enormous opportunities for us. Also, the digital layer and the information layer that we have are enormous advantages basis which new businesses are going to be created and built."
He also stated that the opportunity in India is quite immense.
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