MUFG doubles down in India
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MUFG doubles down in India

Photo: Reuters

The Japanese bank is now well placed to take advantage of growing confidence in the country.

It is a measure of India’s importance that it is on everyone’s radar these days.

India came up roughly 20 times during Apple’s hour-long, second-quarter earnings call with investors recently: about half of those mentions were by Tim Cook himself, chief executive of the technology firm.

Cook said India, with its population of 1.4 billion-plus, was at “a tipping point”, and described it as an “incredibly exciting market” and a “major focus” for Apple, which opened its first two stores in the south Asian nation in late April.

Apple is far from being the only global firm that is bullish on India’s prospects. In May, South Korea’s Hyundai Motor Co said it would invest roughly $2.45 billion in the southern Indian state of Tamil Nadu over the next decade to ramp up electric vehicle production in the country.

Also in May, Taiwan’s Hon Hai Precision Industry Co said that it had bought a piece of land in Bengaluru, an industrial hub in the southern state of Karnataka.



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