Mastercard CEO plans to increase investment in India

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Mastercard will invest $750 million in India in the next four to five years by continuing to acquire companies there, CEO Ajay Banga said this week, according to a report in the Hindu Business Line.

Speaking at the India Economic Summit in New Delhi this week, Banga said India accounts for 3% of Mastercard's revenues and 14% of its workforce. The first investment Mastercard made in India was its purchase of ElectraCard Services in 2010, and over the last three years Mastercard has poured more than $550 million into the country in acquisitions and supporting organic growth, Banga said.

Mastercard also signed a Memorandum of Understanding this week with the southeast India district of Andhra Pradesh to drive financial inclusion for farmers and other underbanked citizens through fintech.

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