Mirae Asset Global Investments announced on January 18 that its Indian subsidiary celebrated its 15th anniversary in India.
Mirae Asset Global Investments India, which entered the Indian market by launching its first fund in 2008, is currently the only independent foreign capital asset management company in India.
After the financial crisis, most global asset management companies withdrew from the Indian market or converted to joint ventures, but Mirae Asset Global Investments has continued to actively invest based on India's growth potential.
The Indian subsidiary, which is composed of local experts who know the Indian market best, has grown into the 9th largest asset management company in India by implementing a thorough localization strategy.
As of the end of December 2022, the trust of the Indian corporation recorded about 21 trillion won. It is more than 100 times larger than the amount of trust, which was only 200 billion won at the time of establishment.
Recently, the number of retail accounts of Indian subsidiaries is on the rise, from 2.8 million in 2020 to 4.7 million in 2021 and 5.5 million at the end of 2022.
Over the past 15 years, Mirae Asset Global Investments India has been engaged in a variety of businesses. In 2019, it expanded its business scope to include fund management, real estate lending, venture capital, and asset management services.
Recently, the company has taken a wide range of steps, such as investing in a logistics center, which is one of the most sought after areas in India. Mirae Asset Global Investments is the first foreign asset management company in India to directly invest in the logistics business.
Also last year, Mirae Asset Global Investments India branch established a branch in Dubai, UAE, making it the first South Korean to enter the Middle East.
