Mitsubishi UFJ Financial Group is bullish on India, where it’s actively looking for acquisition targets that will help boost its presence in the world’s most populous nation.
The goal for Japan’s largest lender is to push up its buyouts and investment in India, and increase annual returns from them to 20% in 10 years, Yasushi Itagaki, head of MUFG’s global commercial banking business, said in an interview.
Given India’s ambition to become a manufacturing powerhouse, its energy demand is likely to rise and there are already many renewable projects, creating opportunities for MUFG as a finance provider, Itagaki said. "It has good economic fundamentals and political stability. The financial sector grows in such markets.”
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