British banking giant Barclays is planning to infuse more than $400m to its Indian arm as part of a strategy to ramp up its operations in the country.

Through this investment, the bank is aiming to tap the growing corporate and investment banking activity in the country.

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The bank said that the investment will enable the growth of its corporate and investment banking and private clients businesses.

Barclays Asia Pacific head and India CEO Jaideep Khanna said: “The capital infusion in the Bank reflects the success and strong track record of our India franchise built over the last three decades.

“We have ambitious growth aspirations, and the investment will help accelerate that as we look to leverage the attractive opportunities that the present situation offers.”

Barclays, which maintains a presence in India since 1990, combines financing, advisory, and risk management businesses under its investment banking unit.

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Its Corporate Banking capabilities include cash management and trade finance and serves high and ultra-high-networth individuals and family offices through Private Clients business.

The latest investment, which is deemed to be the Barclays’ single largest capital infusion in its Indian business in the last 30 years, comes as the country emerges from the Covid-19 pandemic.

“As economic activity gathers momentum, there is increased demand for capital from clients. We are well placed to support their objectives and remain committed to working closely with them,” Khanna added.

Barclays currently operates six locations in India, with 600 employees across its corporate banking business.

In February this year, the bank set up its International Banking Unit branch in Gujarat to support its expansion plans in the country.

In 2016, Barclays launched Rise, its physical and virtual global start-up community, in Mumbai to offer a physical site for Indian fintech firms.