Hinduja Group to expand India presence
London: Bullish on India, global business conglomerate Hinduja Group has announced plans to nearly double their India exposure to 30 per cent in the next few years.
"We, as a group, are extremely confident about India. Our exposure in the country is about 17.5 per cent, which we plan to increase to 30 per cent," G P Hinduja, the President of the Hinduja Group, said during a business summit organised at the London School of Economics (LSE) as part of its annual India Week here yesterday.
"The key to doing business in India lies in finding the right partner. Challenges of bureaucracy exist everywhere but the opportunities are immense," added brother S
P Hinduja, chairman of the London-headquartered company.
The UK-based group, run by billionaire Hinduja brothers, is already present across various countries including India in sectors like banking, auto, energy, technology and healthcare, and has a turnover of over USD 25 billion (about Rs. 1.4 lakh crore).
The group's Indian units include commercial banking entity IndusInd Bank, lubricants and specialty chemicals firm Gulf Oil and commercial vehicle maker Ashok Leyland, among others.
"The upcoming visit by Prime Minister David Cameron to India later this month will include a large business team and is a good opportunity to expand India-UK ties even further," G P Hinduja added at the summit, organised by the Indo European Business Forum to bring together CEOs and policymakers working within the India-Europe space to interact with LSE students.