Citigroup sets India as high priority market amid rising China risks

The nation saw a record $82 billion in merger and acquisition deals in the second quarter, defying a slump elsewhere

Citigroup Inc. is targeting India as one of its top markets to expand in globally as risks mount in China and other regions, the bank’s global co-head of investment banking said.

India presents “very clear” opportunities, said Manolo Falco, the global co-head of Banking, Capital markets and Advisory, in an interview in Mumbai. The New York-based lender expects initial public offerings in India to pick up next year as well as inbound deals in renewable energy and infrastructure, he said.

The world’s second-most populous country is gaining traction among Wall Street dealmakers in part as growing political tension casts a