Standard Chartered reopens Japan desk in Chennai

The desk will provide detailed guidance on foreign direct investment and mergers and acquisitions

With deepening of trade ties between New Delhi and Tokyo, British bank Standard Chartered has reopened a desk dedicated to cater to banking requirements of Japanese companies in Chennai.

The desk will provide services like cash management, and products on financial markets, debt capital markets, employee banking services, it said in a statement.

It will also provide detailed guidance on foreign direct investment and mergers and acquisitions, it added.

"Our Japan desk will strengthen delivery to Japanese clients and in addition to banking requirements, support them in understanding the complexities of the Indian market and regulatory requirements," said Ananth Venkat, managing director and regional head for international corporates in the ASEAN and South Asia regions.

It can be noted that Chennai is a base for many Japanese manufacturing companies operating in the country.

The statement said there are 1,200 Japanese companies in India at present and an incremental investment into India of JPY 3.5 trillion was committed by the Japanese government over the next 5 years during Prime Minister Narendra Modi's visit last year.