TPCL signed a memorandum of understanding (MoU) with EDB to help Indian companies to internationalize their businesses through Singapore.
Tata Capital managing director and chief executive Praveen Kadle said that the licensing process will begin soon and the business will be operational within two years.
"This will be our first private banking. In two years, this will surely happen," Kadle added.
"He said Tata Capital and EDB would help Indian companies leverage Singapore’s regional and international influence and outreach and in return contribute to Singapore’s long-term prosperity."
A private equity and fund management as well as wealth management and securities brokerages, said the firm.
TPCL, which has been in Singapore since 2008 said that both organization agreed to co-operate each other to reach out to companies in various countries, specifically India, to explore business opportunities in Singapore.
EDB Director Lee Eng Keat said Indian companies formed the largest business community in Singapore with over 5,000 companies operating out of the city state into the regional business and trading environment, as reported by The Economic Times.
