India is projected to surpass, or may have already surpassed, China as the world's most populous country this year. Will this translate into more opportunities for investment?
Recently appointed as Apac CEO of the credit specialist, Andrew Tan shares his priorities for the firm over coming months; explains why certain investors are favouring private credit over private equity; and suggests why India is no longer a hotbed for institutional investors.
In 2022, UOB agreed to acquire Citi’s Vietnam business as part of a larger deal that also includes Malaysia, Thailand and Indonesia. Meanwhile, the bank’s India consumer business will transfer to domestic lender, Axis Bank.
India’s domestically-driven economy and Indonesia’s commodity-led exports should provide some resilience despite a more challenging operating environment characterised by higher global inflation, rising interest rates and liquidity tightening. Elaine Koh, senior director for Asia-Pacific non-bank financial institutions at Fitch Ratings discusses the prospects for India and Indonesia’s finance and leasing sector in the current economic environment.
The alternative investor’s third India credit fund has closed with three times the amount of capital contributions as its next largest vehicle. Managing director and head of credit, Kachan Jain, spoke to FA about opportunity to provide credit in India’s substantial mid-market.
Following a surge in activity last year, India’s PE industry has had a less frenetic 2022, but the pace of dealmaking is expected to stay brisk, drawing the likes of Ontario Teachers’ and CPP Investments.