24 January, 2021

"We Are Bullish About India"

Bharat Ahluwalia spoke to corporate America's latest star Kenneth Irvine Chenault on board his Gulf Stream 4 SB en route from Delhi to Mumbai. Chenault, 47, president and chief operating officer of the $19-billion American Express, is credited with t

"We Are Bullish About India"

On American Express' India operations: I think the opportunities are very substantial in India. Given the very low penetration of plastic spending, growth potential is very significant. In '93, there were about half-a-million cards in India. By '98-end, it's three million. And our cards business is growing almost twice as fast as the market. Our banking business is quite strong, and we've been in India for over 78 years. So, we are quite bullish.

On Amex's thrust area: Our cards business has over the last two or three years introduced some exciting products. Corporates too are increasingly interested in taking advantage of our capabilities in helping them manage their travel and entertainment expenses. In personal financial services, we have a very substantial opportunity to build a business with our existing card members, and bring customers to the American Express franchise, marketing a variety of products. So, if we work at our cards, travel and financial services businesses, we're very confident about the possibilities. And we're...



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