Kotak taps UAE market with India-centric investment funds

Investors in the UAE are showing greater interest in Indian markets.

To cultivate Emirati business, Kotak International, the global arm of India’s third-largest private lender Kotak Mahindra, said it plans to launch India-focused retail funds in the UAE.

Kotak announced on Monday that it’s been granted a license by the UAE’s Securities & Commodities Authority to sell investment funds and portfolios to onshore retail investors, the first Indian firm authorized for such sales.

Shyam Kumar, President of Kotak International, told Reuters that India’s young working population is appealing for foreign investors. “India has got a story which is extremely wide and diversified,” Kumar said.