US-based American Express to bring more products to India

New Delhi, Sep 24 (UNI) US-based plastic card major American Express plans to launch a variety of new products in India in the next couple of months, a company official has said.

''We are planning to launch more products in the country and pump in additional investment by the end of this year, to tap the growing market in India,''AE Country Manager Rob Hennin said.

Mr Hennin said that in the Asia Pacific region, India is currently one of the fastest growing economies with 7,11,000 individuals having liquid wealth of more than 1 lakh dollars each.

''We need to understand their mindsets and provide cutting-edge products to suit their needs,'' he said.

While speaking at the launch of the report on 'Inside the Affluent Space' conducted by AE, Mr Hennin said Indian millionaires will the reach 1.1 million mark at a 12.8 per cent growth rate by 2009, with an estimated cumulative wealth of 322 billion dollars. At present, it is around 203 billion dollars.

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