Standard Chartered, a London-based bank, has signed new agreements to expand its global India business. The bank has partnered with the Singapore Indian Chamber of Commerce & Industry and the Institute of Chartered Accountants of India in Singapore. These partnerships aim to increase the bank’s access to Indian business networks in Singapore and strengthen its presence within the community.

According to Standard Chartered, India’s population of high net worth individuals has doubled in the past decade and is projected to reach 1.6 million by 2027. The bank sees an opportunity to support and grow alongside this wave of wealth creation. James Lye, the bank’s global and Singapore international banking head, stated that there is a growing demand in the global Indian community for cross-border banking and wealth solutions.

The latest agreements are part of a broader effort to refresh Standard Chartered’s global Indian proposition, which began in 2024. The revamp included increased connectivity with the bank’s hubs in Singapore, Hong Kong, UAE, and UK, as well as access to a new affluent wealth center in Mumbai and lifestyle experiences.

To cater to its Indian clients, Standard Chartered recently hosted an exclusive Deepavali celebration in Singapore, which was attended by over 200 clients. The event featured a traditional Diya lighting ceremony, a classical sitar and tabla performance, and a performance by renowned Hindi playback singer Sonu Nigam. This event is an example of the bank’s efforts to provide unique experiences to its clients and strengthen its connection with the Indian community.

Through these partnerships and initiatives, Standard Chartered aims to deepen its understanding of the Indian market and provide tailored solutions to its clients. The bank’s goal is to position itself as a leading provider of cross-border banking and wealth solutions to the global Indian community. With its refreshed global Indian proposition, Standard Chartered is well-placed to support the growing wealth creation in India and cater to the needs of its high net worth individuals.