*HSBC to expand its operations in India and invest in government's initiatives**

Summary of the development:

**HSBC to expand its operations in India and invest in  government's initiatives**

Finance Minister Nirmala Sitharaman met with the Board of Directors of HSBC Holdings Plc led by Group Chairman Mark Tucker in New Delhi today. During the meeting, the two sides discussed investment opportunities in India. HSBC has expressed its intention to further expand its operations in the country and extend support to the Indian government's initiatives, such as Digital India and Make in India. The bank is also exploring opportunities in climate financing and IFSC & GIFT City.

This development is significant because it signals HSBC's confidence in the Indian economy and its commitment to the country. HSBC is one of the largest global banks, and its decision to expand its operations in India is a vote of confidence in the country's growth potential. The bank's support for the government's initiatives is also welcome, as it will help to accelerate India's development.

The investment in climate financing is particularly important, as it will help to address the climate crisis. Climate change is a major threat to India, and HSBC's investment will help to mitigate its impact. The investment in IFSC & GIFT City is also welcome, as it will help to develop India's financial markets. IFSC & GIFT City are two key initiatives of the Indian government to develop India as a global financial hub.

Overall, this development is positive news for India. HSBC's investment will help to boost the economy, create jobs, and address the climate crisis.

Sure, here is a press release about the meeting between Smt Nirmala Sitharaman and the Board of Directors of HSBC Holdings Plc:

**FOR IMMEDIATE RELEASE**

**HSBC to Expand in India, Support Government Initiatives**

**New Delhi, India – December 4, 2023** – Smt Nirmala Sitharaman, India’s Finance Minister, today met with the Board of Directors of HSBC Holdings Plc, led by Mr Mark Tucker, Group Chairman. During the meeting, investment opportunities in India were discussed as HSBC intends to further expand in India, extend support to Hon’ble Prime Minister Shri Narendra Modi-led Government’s initiatives such as Digital India and Make in India, and also explore opportunities in climate financing and IFSC & GIFT City.

HSBC is one of the largest global banking and financial services groups with a presence in over 64 countries. The company has been operating in India for over 150 years and is one of the largest foreign banks in the country.

“HSBC is committed to India and we are excited about the opportunities that exist here,” said Mr Tucker. “We are confident that India will continue to be a major driver of global economic growth in the years to come.”

India’s Finance Minister, Smt Nirmala Sitharaman, welcomed HSBC’s commitment to India and said, “India is a land of opportunities and we are committed to creating an environment that is conducive to investment. HSBC’s decision to expand its presence in India is a vote of confidence in our economy.”

The meeting between Smt Nirmala Sitharaman and the Board of Directors of HSBC Holdings Plc is a positive sign for India’s economy. HSBC’s commitment to India will help to create jobs, boost investment, and support the government’s economic agenda.

**About HSBC Holdings Plc**

HSBC Holdings Plc is one of the world’s largest banking and financial services organizations with a presence in over 64 countries. The company’s goal is to provide a wide range of financial services to customers through four global business lines: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Private Banking.

**About the Government of India**

The Government of India is the highest level of executive authority in India. It is responsible for the administration of the country and the execution of its laws. The government is headed by the Prime Minister, who is the head of the Council of Ministers. The President of India is the ceremonial head of state.

**Contact:**

[Media Relations Contact]

Sure, here is a summary of the development:

**HSBC to expand in India and support Modi government's initiatives**

HSBC Holdings Plc, one of the world's largest banks, has announced plans to further expand its operations in India. The bank's Group Chairman, Mr Mark Tucker, met with India's Finance Minister, Smt Nirmala Sitharaman, in New Delhi today to discuss investment opportunities in the country.

HSBC is committed to supporting the Indian government's initiatives, such as Digital India and Make in India. The bank is also exploring opportunities in climate financing and IFSC & GIFT City.

This is a significant development for India, as it will help to attract more foreign investment to the country. HSBC is a well-respected global brand and its expansion in India will be a major boost for the economy.

**Key Points:**

* HSBC plans to further expand its operations in India.

* The bank is committed to supporting the Indian government's initiatives.

* HSBC is exploring opportunities in climate financing and IFSC & GIFT City.

This is a positive development for India, as it will help to attract more foreign investment to the country. HSBC is a well-respected global brand and its expansion in India will be a major boost for the economy.