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Bloomberg’s Role In India’s Growth In Two Decades


Bloomberg moves forward with India, commitment to support the financial market and the development of the country’s “business landscape”.

Dailycsr.com – 29 November 2016 – Bloomberg’s journey in India began in the year of 1996 only with a handful of employees who operated from a centre in Mumbai. Continuing on a journey of two decades, at present Bloomberg’s employee count in India goes over “one hundred and fifty”, while its branches are found in “Mumbai, New Delhi, Bangalore and Pune”, whereby the Bloomberg team serves “local and global customers across Indian subcontinent”.
During Bloomberg’s venture in India, it witnessed the country’s growth, whereby India transformed from “one of the emerging market to one of the fastest growing economies in the world”. Moreover, Bloomberg acknowledges its contribution in shaping the “business landscape” of India as the company remains a witness and a partnership in India’s “historic growth and change”.
Bloomberg, however, as per its commitments, intents on playing its role in “India’s future”. In the words of Michael Bloomberg”
“Twenty years’ ago many international banks and financial institutions opened in India at the same time. We wanted to be there with them to serve our customers and to help India grow.”
Chrisil is the “leading ratings agency” in India which also happens to be among the “first customers” of Bloomberg. Even today, the “professional service” provided by Bloomberg is counted among the “leading financial information network”, which is being availed by “thousands of investment firms, corporations, banks, government agencies, and schools across India”. Talking about the experience of working with Bloomberg, TA-PAI Management Institution’s professor, Madhu Veeraraghavan, stated:
“TA-PAI is, probably the only school in the country that uses Bloomberg extensively. Every finance course, every economics course, and accounting course are totally mapped to Bloomberg. So when TA-PAI students graduate and they go to big banks, they are already trained in the Bloomberg terminals.”
While, the CFO/Treasury of GMR Infrastructure, Jitendra Jain, added:
“GMR, we are using Bloomberg close to eight years now. Bloomberg is the only system available in the market which actually kept on upgrading itself, kept on adding new functions, new systems in line with the requirements of the markets.”
In the words of ASIFMA’s Mark Austin:
“Bloomberg’s been really active partner in the developments of the capital market within the region and across lot of different products that we are actually servicing.”
South Asia Managing Editor of Bloomberg News, Arijit Ghosh, said:
“The next big market for people to see is India – huge economy, a stable market; so you have opportunities and avenues to invest in India.”
On the others hand, Sunny Chhabria from South Asia Sales, Bloomberg LP, said:
“The change, transformation and reform that is happening in India is going to have a positive impact on its financial sector. Bloomberg is in a unique position and is going to partner with India to ensure that this product Innovation, this financial market development, is really driven out of this region.”
On a concluding note, Michael Bloomberg said:
“Of all the countries that we operate in globally, I think India probably has as much promise to the future, as any place Bloomberg does business.”