07 May

MasterCard To Make $1 Billion Investment In India Over The Next 5 Years

2019-05-07      Posted by Admin

This Monday Mastercard made a major announcement of investing $1 Billion in India over the Upcoming 5 years so as to make India as a Global Tech Node.

The company has already made an investment of $1 billion in the Indian market in the last five years.

“Over the e last five years, we invested about USD 1 billion in India. Given our increasing confidence in the Indian economy, where it is likely to be over the coming decade, we are stepping up on our investment commitment in India. We are committing another USD 1 billion into India (for next five years),” Ari Sarker, co-president, Asia Pacific, Mastercard told in an interaction.

The most crucial thing about this investment is that Mastercard is building India as a global technology node for its global platforms, he said.

What we mean by that is as a payments network we are a global network. All our transactions traverse towards a global network where the technology centers are in the US. And now India is going to become the first country outside of the United States which will have a global technology node,” he added.

This step taken by Mastercard will surely help encourage the development of innovation and shall cause growth and improvements in employment and technology development capabilities in India.