Invested in India
India Ascendant
India is a key market for MUFG’s growth ambitions and a strategic pillar underpinning its Asia Strategy. Driven by a robust domestic market, youthful workforce and dynamic technology and financial sectors, the world’s fastest-growing major economy is on track to scale up into the world’s third largest economic powerhouse.
MUFG is shaping several strategic manoeuvres to emerge as a top leader in India’s foreign-currency loans to Indian borrowers* and harness this cresting wave of economic ascendance.
*Source:Bloomberg, 2024
Growing our Presence
We are fully committed to leveraging our presence here to contribute to India’s vision of being a gateway to the world”.” – Shashank Joshi, Deputy CEO of MUFG India
MUFG established its first India branch in Mumbai in 1953, and its presence in the market has since grown to include additional branches in New Delhi, Chennai, Neemrana and Bengaluru.
In 2022, MUFG became the first Japanese bank to open a branch in Gujarat International Finance Tec-City (GIFT City) – its sixth in India. The move positions MUFG in the global fintech and digital hub, serving as India’s gateway to global finance.
The GIFT City branch introduced MUFG’s first fully-digitalised trade finance transaction, accelerating the processing of a Letter of Credit from two days to three hours. This breakthrough underscores MUFG’s strategic role as an innovative foreign lenders at GIFT City, strengthening the India–Japan investment corridor through creative and speedy financial solutions.
Stronger Together
As a central tenet of our Asia strategy, our collaborative mindset is best exemplified in our “One MUFG” network. Through close-knit integration across its diverse entities and strategic partners, MUFG harnesses global expertise and resources to present compelling value propositions and solutions for its clients.
The forging of the MUFG-Morgan Stanley alliance in 2008, further augmented with a renewed commitment to “Alliance 2.0” in 2023, has been an instrumental development in One MUFG’s development. This monumental collaboration with our strategic partner has synergised greater access to global markets and strengthened our service offering mix to our clients. In India, MUFG’s strategic partnership with Morgan Stanley includes the alliance’s underwriting of Tata Motors’ EUR3.8 billion acquisition of Iveco Group in 2025.
MUFG Securities (India) also opened an office in September 2025, marking another significant milestone in MUFG’s commitment to India and its broader Asia Pacific growth strategy, significantly enhancing MUFG’s ability to offer end-to-end financing solutions in India, and complementing its leading position in offshore capital markets.
Investing in Digital Capabilities
MUFG’s strategy in Asia leverages on strategic investments in digital finance services, to reach underserved and unbanked customers, and drive greater financial inclusion. This in turn bolsters economic opportunities and quality of life in the region.
The bank’s dedicated USD300 million Ganesha fund stands as MUFG’s firm commitment to invest in middle-to-late-stage Indian start-ups and partner a new generation of fintech companies to deepen the financial ecosystem, enable underserved customers with greater access to financial products and democratise credit.
MUFG’s investment into DMI Finance, including a USD332 million commitment to the digital finance service provider in 2024, has also facilitated business collaborations and technological knowledge sharing. It has since further extended its support to India’s digital ecosystem, investing in promising companies from digital loan platforms KreditBee and Lentra to wealth management startup Neo Group.
These investments underscore MUFG’s commitment to taking on a leading role in India’s digital innovation journey.
A Stalwart of Sustainability
“As India progresses, institutions like ours are expected to play a proactive role—not merely as financial enablers, but as partners in building a resilient, inclusive, and sustainable society” – Takuya Senoo, Regional Executive for India and Sri Lanka, MUFG Bank, 2025
MUFG commitment in Development Hyderabad and Pune Data Centre’s landmark USD875 million deal was accorded “Digital Infrastructure Deal of the Year” by The Asset Triple A Sustainable Awards 2025, which also recognised the bank as “Best Bank for Sustainable Finance”.
MUFG’s commitment to sustainability also extends beyond business deals and investments. Mumbai has hosted the bank’s flagship regional sustainability engagement and thought leadership forum, MUFG N0W (Net Zero World), in conjunction with Climate Bonds Initiative (name is incomplete), rallying industry experts and business leaders to elevate the level of insight and understanding in India’s sustainability space. MUFG has also partnered with Climate Bonds (see above) to publish the India Sustainable Debt State of the Market 2024 report, promoting the robust opportunities in sustainability for the India market via a public in-depth analysis of India’s green, social, sustainability, and sustainability-linked debt market.
MUFG Global Service: The Engine Empowering our Momentum
In recognition of expanding needs to support the global internal customers, MUFG established MUFG Global Service Private Limited in 2020. This wholly-owned subsidiary sited in Bengaluru and Mumbai serves as the nexus for digital transformation, ensuring global efficiency and standardisation across the bank. MUFG Global Service has rapidly scaled up from 90 employees in FY2020 to 1,700 in 2025, and is currently projected to further expand to 3,000 employees by end 2027.
As an integral member of the ONE MUFG network, MUFG Global Service empowers the bank with timely, seamless and innovative solutions. Key competencies span a comprehensive spectrum of functions across systems development, business process, credit, operations, KYC and more, honing MUFG’s global competitiveness across the Asia Pacific, EMEA and the Americas.
