‘Mirae Asset looking to set up global centre in India’

Published - July 09, 2024 07:34 pm IST - CHENNAI

Swarup Mohanty 

Swarup Mohanty 

Mirae Asset Investment Managers (India) Pvt. Ltd. is exploring the possibility of setting up a Global Capability Centre (GCC) in one of the major Indian cities, said Vice Chairman and CEO Swarup Mohanty.

“We are assessing the possibility of setting it up in one of the Indian cities. It will be the first GCC to set be up outside of South Korea,” Mr. Mohanty told journalists.

According to him, the “India’s fastest growing fund house” will be assessing the capability to house electronic traded funds in the backend along with other administrative functions. Besides, AI will be set up to support India business as well as to be the backend of Mirae Asset global endeavours.

He said Mirae Asset had nine businesses in India and two more would likely be added this year. The firm will totally have 14-15 businesses in three to four years’ time.

The company, which has two warehouses in Mumbai and Bhiwandi each, was in the process of acquiring a new unit in Pune, he said and added that chances that its real estate business could be spun into a separate division were bright.

On the acquisition of brokerage firm Sharekhan, he said that they were hopeful of getting the final clearance by the second half of 2024.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.