Mirae Asset Investment Managers (India) Pvt. Ltd. is exploring the possibility of setting up a Global Capability Centre (GCC) in one of the major Indian cities, said Vice Chairman and CEO Swarup Mohanty.

“We are assessing the possibility of setting it up in one of the Indian cities. It will be the first GCC to set be up outside of South Korea,” Mr. Mohanty told journalists.

According to him, the “India’s fastest growing fund house” will be assessing the capability to house electronic traded funds in the backend along with other administrative functions. Besides, AI will be set up to support India business as well as to be the backend of Mirae Asset global endeavours.

He said Mirae Asset had nine businesses in India and two more would likely be added this year. The firm will totally have 14-15 businesses in three to four years’ time.

The company, which has two warehouses in Mumbai and Bhiwandi each, was in the process of acquiring a new unit in Pune, he said and added that chances that its real estate business could be spun into a separate division were bright.

On the acquisition of brokerage firm Sharekhan, he said that they were hopeful of getting the final clearance by the second half of 2024.