Synchrony Financial to put in $20 million
Synchrony Financial plans to invest $20 million in India by the end of next year.
Hyderabad: US-based Synchrony Financial plans to invest $20 million in India by the end of next year but it has no intention to enter the Indian market in the near future, according to top officials.
Speaking on the sidelines of a CSR activity programme, senior vice-president and business leader, India, Faisal Uddin said: “The company has further committed about $20 million for building our new facility and for enhancing our work environment. An additional two lakh square feet has been bought and we are in search of a further 68,000 square feet.”
Chief operating officer Kurt Grossheim, who is in India for the event along with 14 of the firm’s top officials, said it was about time for the company — which first came to India in 1999 as GE Capital Retail Finance Corp. — to get a new office space. He though said that the firm isn’t look to expand globally yet.