Barclays is targeting around 25% annual growth in its India private banking business, as the global lender looks to expand its presence among the country’s growing base of wealthy clients.

The bank plans to focus on building deeper relationships with high-net-worth individuals rather than simply increasing the number of customers. Barclays India Private Bank currently manages around $5 billion in client assets, with the business serving wealthy individuals and families in India.

The bank sees strong potential as India’s wealth creation continues to increase, driven by entrepreneurship, capital markets and the growth of privately owned businesses.

Rather than following a high-volume approach, Barclays plans to focus on quality clients and long-term relationships. The strategy includes offering services such as investment management, lending, wealth planning and access to the bank’s global network.

India has become an increasingly important market for global wealth managers. The country’s expanding population of high-net-worth individuals is attracting international banks that want to benefit from rising demand for sophisticated investment and wealth management services.

Barclays also sees opportunities among entrepreneurs and business families looking for access to international markets. Its global presence can help Indian clients diversify investments and manage wealth across different geographies.

The bank’s growth target comes as competition in India’s private banking sector intensifies. Domestic banks, foreign lenders and independent wealth management firms are all expanding their offerings to attract wealthy customers.

For Barclays, achieving 25% annual growth will depend on maintaining strong client relationships while expanding its product range and advisory capabilities. The bank’s decision to prioritise quality over volume suggests it is targeting sustainable growth rather than pursuing rapid customer acquisition.

The expansion also highlights India’s rising importance in the global wealth management industry, as increasing private wealth creates opportunities for financial institutions offering specialised banking and investment services.

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