JPMorgan CEO Dimon arrives for India conference
JPMorgan CEO Jamie Dimon touched down in Mumbai on September 21 for the bank’s 11th annual India Conference, a two-day gathering that brings together more than 1,000 investors, corporate leaders and policymakers.
Dimon meets Indian officials and industry heads
The finance minister, Nirmala Sitharaman, greeted Dimon at the conference venue, according to a post on the ministry’s X account. The meeting was described as an “interaction” between the two leaders, highlighting the importance of the event for U.S.–India financial ties.
During the same day, executives from major Indian conglomerates, including Reliance Industries, Nestlé India and Tata Steel, participated in one-on-one investor sessions. Bloomberg reported that these meetings are part of JPMorgan’s push to deepen relationships with the country’s largest corporations.
JPMorgan’s expanding footprint in India
Dimon’s return marks a stark contrast to his first visit in 2005, when the bank’s Mumbai office occupied a modest downtown building with an elevator that could hold only three people.
At that time, a team of ten bankers covered research on roughly 20 companies.
Today, JPMorgan employs about 55,000 staff across India, spanning engineering, cybersecurity, artificial intelligence and a full suite of services that support its global operations.
He added that as Indian firms expand internationally and multinationals deepen their Indian presence, demand for strategic advice and capital-markets expertise is rising.
JPMorgan’s India business is not limited to advisory work. The firm is constructing what will become Asia’s largest global capability centre in Mumbai’s Powai district – a 2 million-square-foot campus designed for roughly 30,000 employees, with completion slated for 2029. In July 2026 the firm announced a recruitment drive for about 1,000 technology professionals focused on cloud architecture, cybersecurity and AI data pipelines.
In payments, JPMorgan Payments has teamed up with the National Payments Corporation of India to deliver real-time foreign-exchange rates for cross-border UPI transactions. The partnership aims to reduce friction for clients using India’s fast-growing instant-payment network.
India’s securities regulator recently lifted a trading ban on JPMorgan’s offshore unit, Copthall Mauritius Investment, after the entity posted a deposit of roughly ₹2.96 crore. The unit remains barred from the closing-auction segment while the investigation proceeds, a situation that does not directly affect the bank’s domestic operations.
In a related development, JPMorgan Securities Plc secured a licence from the International Financial Services Centres Authority to open a branch in Gujarat International Finance Tec-City, enabling the firm to trade equities, derivatives and other instruments for non-resident clients from the low-tax hub.
Deal-making momentum and competition
Following the conference, market data showed JPMorgan had captured the leading position in India’s equity-raising market for 2025, overtaking the domestic heavyweight that had long dominated the league-table. That year, issuers secured nearly $55 billion through listings, share placements and block trades, marking a pronounced surge in capital-raising activity.
Strategic outlook and market expectations
The comment highlights the bank’s focus on attracting foreign capital to support Indian growth projects.
Paul Uren, head of Investment Banking for Asia Pacific, highlighted a pipeline of large initial public offerings across consumer, healthcare and technology sectors. “This will most likely be a record year for the investment-banking industry globally,” he told a television interview, adding that Asia is set to exceed the activity levels recorded in 2021.
Sun Pharma’s recent overseas acquisition was cited as an illustration of Indian companies pursuing expansion beyond domestic borders. JPMorgan acted as advisor on the transaction, which the bank described as the largest outbound merger and acquisition deal originating from India.
Abhinav Bharti, head of India equity capital markets, pointed out that annual fundraising volumes have risen dramatically, moving from roughly $30 billion in earlier years to peaks of $40 billion in 2020-21, $72 billion in 2024 and $68 billion in 2025. He expects the current year to remain above $60 billion, reflecting sustained investor appetite.
