New Delhi: JP Morgan Chase and Company is all set to strengthen its corporate banking presence in India, emphasising sectors such as electric vehicles, data centers, and solar energy. The firms operating in these sectors have increased capital spending in the world’s fastest-growing major economy.
“As demand certainty improves, capex investments will begin,” said Oliver Brinkmann, co-head of global corporate banking, Asia Pacific, in a recent interview in Mumbai.
JP Morgan sees India and Japan as two of the world’s fastest-growing Asian markets in terms of revenue from corporate banking. It expects sustained growth on India’s part despite Washington slapping a 50 percent tariff on many Indian imports. The latest quarterly data from the NSO office states the GDP grew to the highest in 5 quarters, quoting India’s Q1 FY26 GDP growth rate at 7.8 percent. However, several economists forecast that the tariffs could severely hurt labour-intensive industries and could slow the economy in the shorter run.
“The geopolitical environment, including tariffs, is complicated, but JPMorgan takes a long-term strategic view of its business in India,” Brinkmann said further. He opined that the revenue from local corporate banking has grown by 30 percent year-on-year for the past two to three years, and he forecasts a similar pace of growth in the next few years.
A separate report by S&P Global Ratings said that Indian companies are expected to raise their capital expenditure to $800 billion to $850 billion over the next five years from the expenditure that was incurred in the previous five-year period.
“ We are looking to expand our corporate banking presence in sustainable energy, technology, diversified industries, and infrastructure,” said Brinkmann. He said that JPMorgan is increasing its domestic workforce to focus on these segments.
JP Morgan is an investment banking service provider firm. Its clientele in India includes mid-cap firms with revenues inching between $300 million and $2 billion. The US-headquartered firm boasts of 1900 different domestic clients.