ICICI Prudential AMC opens DIFC office to facilitate global investors

ICICI Prudential Asset Management Company Limited (ICICI Prudential AMC), one of India’s largest asset managers, has inaugurated its branch at the Dubai International Financial Centre (DIFC), marking a key milestone in its international expansion and strengthening its engagement with institutional investors across the Gulf Cooperation Council (GCC) and Africa.

The DIFC office will serve as a regional hub for the firm’s international business, enabling closer engagement with sovereign institutions, family offices, private banks and wealth platforms seeking exposure to India.

The office was inaugurated by Arif Amiri, Chief Executive Officer of DIFC Authority, and Nimesh Shah, Managing Director and Chief Executive Officer of ICICI Prudential AMC. Senior executives including Naveen Agarwal, Chief Financial Officer; Anand Varadarajan, Senior Executive Officer of the DIFC branch; and Harsh Saraswat, Regional Head – Distribution, were also present along with partners and members of the media.

Speaking at the inauguration, Nimesh Shah said the Middle East has become an increasingly important investor base for India-focused allocations.

“In hindsight, we probably should have opened this office earlier,” he said. “Over the past decade, the Indian mutual fund industry has grown significantly, while the Gulf region has emerged as an important source of capital for India-focused investments.”

Shah noted that investors in the region including the Indian diaspora as well as global investors are increasingly seeking diversified exposure to India through regulated and transparent platforms.

“Our presence in DIFC allows us to directly engage with sovereign institutions, family offices, private banks and wealth platforms across the GCC and Africa, rather than servicing the region remotely from India,” he said.

He added that the firm will work closely with banks and wealth managers to offer India-focused investment strategies.

“We are an investment manager and primarily partner with financial institutions that want to offer India investment products to their clients. Our role is to provide the research, portfolio management expertise and access to Indian markets,” Shah said.

He described the DIFC office as a strategic bridge connecting global capital with India’s investment opportunities.

“Global investors want exposure to India’s growth story, while Indian investors are increasingly looking for global diversification. This office allows us to support both,” he added.

Shah emphasised that India remains one of the most compelling long-term investment stories among major economies.

“India should be viewed as a structural, long-term allocation rather than a short-term trade,” he said. “Growth is supported by favourable demographics, rising consumption, digitalisation and infrastructure investment.”

He added that India’s domestic demand-driven economy provides resilience during periods of global uncertainty.

“Nearly two-thirds of India’s GDP comes from consumption, which makes the economy less dependent on global trade cycles. Domestic investors also now provide a strong and stable capital base for markets through systematic investments,” Shah said.

Looking ahead, he said the outlook for earnings growth in India remains positive.

“After a period of consolidation in markets, improving liquidity conditions, government spending and consumption recovery should support corporate earnings growth in the coming years,” he said.

Beyond traditional asset classes, Shah highlighted emerging opportunities in sectors such as commercial real estate.

“India is seeing rapid expansion of Global Capability Centres by multinational corporations, which is driving strong demand for office space. This creates opportunities for investors seeking stable rental income and long-term capital appreciation,” he said.

Shah said the firm will focus primarily on institutions, private banks, wealth managers and family offices in the region.

“India is a complex market and having the right local investment partner is important. Our goal is to help international investors navigate India’s markets and participate in its long-term growth story,” he added.