"Outlook for India is very positive"

Paul Uren, Head of Investment Banking (Asia-Pacific), J. P. Morgan, on M&A activity, the environment of investment banking market in India, and more

- KRISHNA GOPALAN

FOR PAUL UREN, Head of Investment Banking (Asia-Pacific) at J.P. Morgan, India is a strategic opportunity. In an interview with Business Today, Uren says a lot of time is being spent to understand that, along with taking a long-term approach. He also speaks about the broad-based nature of M&A activity across sectors in India. Edited excerpts:

What do you like about what you're seeing in India from an M&A perspective?

The level of M&A activity is the first thing. There's a real desire on the part of corporate clients to transact, and on the part of private equity clients. We're seeing a lot of activity across sectors and deal completion rates are high, with buyers and sellers able to agree to terms.

A lot has been said about India in terms of a special place in the APAC region or just the kind of money that's being raised. Also, on inbound or outbound activity, one has seen a surge in the ticket size. How do you explain this?

We have always believed the investment banking market would continue to grow in India, but it's probably developed at a quicker pace because of a number of factors. First, the government has been very supportive of the continued growth of the economy. Investments are being made into infrastructure, there's an expansion of the middle class, and the continued attractiveness of India's GDP growth (both on an absolute and a relative basis). I also want to highlight the continued development of the public equity markets.