Business friendly environment makes India one of the preferred destinations for foreign investment, said Vats speaking virtually India@75 session.
The chairman of Financial Holdings said that his company has so far invested USD 7 billion in India and plans to double that investment in 4-5 years.
Piyush Gupta, CEO DBS Group from Singapore, said India is an opportunity for its vast pool of engineers, digital innovation, analytics, AI among others.
In response to a question on the interest of the company
Which is about to be privatized, he said, adding that the group has no such plans and is completely focused on the amalgamation of the erstwhile Lakshmi (LVB).
Gupta said DBS will focus on the 600-strong branches that the group has after the LVB acquisition.
Earlier this month, a locally incorporated subsidiary of Singapore-based lender DBS reported a profit after tax of Rs 167 crore for 2021-22.
DBS Bank India had a net profit of Rs 312 crore in the same period a year ago. But the bank said the results are not comparable due to the merger with LVB in November 2020, which made FY22 the first full year of operations for the larger entity.