India and the EU have signed a free trade agreement after years of negotiating; over 90% of goods are set to move tariff free.

Blackstone has bought 9.9% of India’s Federal Bank and a stake in India’s Ace Insurance Brokers.

The former JP Morgan banker will be joining Citi in June from tech firm Dream Sports, and will be based in Mumbai.

India’s largest digital brokerage Groww has opened subscriptions for its $754m IPO, marking one of the biggest listings of 2025. The Bengaluru-based firm secured strong anchor demand from top sovereign and institutional investors including GIC, ADIA and Norway’s wealth fund.

Citi Commercial Bank in India has appointed Kannan as head of digital, technology, communication, business & professional services and industrials; he will join in December and has worked at JP Morgan for over 15 years.

Rahul Badhwar will start as senior country officer in July in Mumbai.

A $500m, 30-year tranche was added to the latest offering to support India’s regional and international trade activities at a time of global trade tensions.

The new branch in the IFSC will be led by Mihir Baxi, and will support renewable energy and infrastructure in India, including roads, transmission, data centres, technology and telecommunications.

The $1.3bn raise from the electronics giant and $1.75bn IPO from Tata Group's financial services arm attracted strong demand from institutional investors. Citi is seeing its largest Indian IPO pipeline on record.

The agreement, which will reduce tariffs across billions of dollars of goods, comes after three years of talks.