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What is the story about?
HSBC sees significant growth opportunities in India and plans to invest further in the country to maintain its momentum and accelerate growth in areas where it sees potential, Group CEO Georges Elhedery
Elhedery said, “India has scale, which is very attractive. India has enormous talent, which is therefore very easy to find the right talent for the activities you want to be investing in. So whether you're a local entrepreneur or you're local corporate, or whether you're international looking to invest in India, the these opportunities are very compelling.”
India is HSBC's largest talent base globally outside its home office, with around 48,000 employees in the country. Of these, about 5,000 work directly in the bank, while the remaining employees are part of its capability centres.
The bank serves a broad customer base in India, ranging from innovation-led startups and middle-market companies to large corporates, financial institutions, sponsors and the government sector.
Premier banking and wealth management are also among the areas where HSBC has increased its focus in recent years. The bank is looking to offer affluent customers greater international access and more sophisticated investment capabilities.
HSBC sees India's growing integration with the global economy as another major opportunity. Elhedery said the bank views India as an important market within its connected global network.
The bank is seeing opportunities on both sides of the India-global corridor. While multinational companies are coming to India to invest and establish businesses, Indian companies are increasingly looking to expand overseas.
HSBC is supporting Indian businesses as they expand into markets including the US, UK, Europe, the Middle East and other parts of Asia.
Elhedery said free trade agreements (FTAs) are an important part of this growing connectivity as they cover not only trade but also investment opportunities.
“We are genuinely looking at India as a very important node, a very key market in our connected network,” he said.
HSBC also recently saw strong demand under the Reserve Bank of India's FCNR(B) scheme. The bank mobilised $14.5 billion before the window was closed, according to the discussion.
Elhedery said the exercise involved teams across customer service, commercial operations, documentation, regulatory compliance, risk management and liquidity.
The strong response, he said, highlights the bank's ability to work across its different businesses to meet customer requirements.
For the entire discussion, watch the accompanying video
Elhedery said, “India has scale, which is very attractive. India has enormous talent, which is therefore very easy to find the right talent for the activities you want to be investing in. So whether you're a local entrepreneur or you're local corporate, or whether you're international looking to invest in India, the these opportunities are very compelling.”
India is HSBC's largest talent base globally outside its home office, with around 48,000 employees in the country. Of these, about 5,000 work directly in the bank, while the remaining employees are part of its capability centres.
The bank serves a broad customer base in India, ranging from innovation-led startups and middle-market companies to large corporates, financial institutions, sponsors and the government sector.
Premier banking and wealth management are also among the areas where HSBC has increased its focus in recent years. The bank is looking to offer affluent customers greater international access and more sophisticated investment capabilities.
HSBC sees India's growing integration with the global economy as another major opportunity. Elhedery said the bank views India as an important market within its connected global network.
The bank is seeing opportunities on both sides of the India-global corridor. While multinational companies are coming to India to invest and establish businesses, Indian companies are increasingly looking to expand overseas.
HSBC is supporting Indian businesses as they expand into markets including the US, UK, Europe, the Middle East and other parts of Asia.
Elhedery said free trade agreements (FTAs) are an important part of this growing connectivity as they cover not only trade but also investment opportunities.
“We are genuinely looking at India as a very important node, a very key market in our connected network,” he said.
HSBC also recently saw strong demand under the Reserve Bank of India's FCNR(B) scheme. The bank mobilised $14.5 billion before the window was closed, according to the discussion.
Elhedery said the exercise involved teams across customer service, commercial operations, documentation, regulatory compliance, risk management and liquidity.
The strong response, he said, highlights the bank's ability to work across its different businesses to meet customer requirements.
For the entire discussion, watch the accompanying video
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