Japan’s Resona Bank is expanding its focus on India by joining hands with Tata Capital, aiming to give its clients greater access to financing solutions and business opportunities in the country’s growing market.
Under a new memorandum of understanding (MoU), the 2 financial institutions will explore opportunities by combining Tata Capital’s local network and financial services expertise with Resona Bank’s relationships with Japanese businesses.
The partnership follows Resona Bank’s US$20 million investment as a limited partner in Tata Capital Growth Fund III LP, which invests in Tata Capital Growth Fund III. The fund is managed by Tata Capital. Resona Bank has not disclosed when the investment was made.
The collaboration is non-exclusive and will use Tata Capital’s network to identify and explore opportunities in India. Resona Bank will draw on Tata Capital’s local presence and market knowledge to support Japanese customers evaluating business opportunities in the country.
“This collaboration combines Tata Capital’s deep understanding of the Indian market with Resona Bank’s strong relationships with Japanese businesses,” said Rajiv Sabharwal, MD & CEO of Tata Capital.
Sabharwal also said Tata Capital Growth Fund III has a proven record of creating value and can support companies seeking to benefit from India’s growth.
Resona Bank executive officer Mamoru Saito said India is a strong and rapidly growing market that is becoming increasingly important to Japanese companies across manufacturing, sales, procurement and research and development.
The partnership deepens the relationship between the 2 financial institutions as Japanese companies increasingly explore opportunities across India’s expanding business ecosystem.
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