A flurry of India’s leading banking and financial giants have announced plans to grow their services overseas. According to fDiMarkets’ Investor Signals, which tracks early-warning signs that a company may be considering investment, investment banks such as SBI Capital Markets, Kotak Capital, IDBI Capital Market Services, JM Financial and Axis Bank are all hoping to secure merchant banking licenses abroad.  

The companies are responding to an increasingly crowded domestic market as global giants take advantage of the opportunities India’s emerging market status offers.

In 2011 to date, greenfield investment monitor fDi Markets has recorded that US-based investment bank Jefferies Group and French investment banking firm Bryan Garnier & Co are both planning establish a base in the country. They are joined by Japan’s Sumitomo Mitsui Banking Corporation, Guernsey-based wealth management provider Nerine Group, and asset management company from the US, Invesco.