Indian company Kotak Mahindra (UK) Ltd (KMUK) Tuesday opened a branch in the Dubai International Financial Centre (DIFC).

It is the first Indian institution to set up operations at DIFC, an onshore hub for global finance, bridging the time gap between the financial centres of Hong Kong and London and servicing a region with the largest untapped emerging market for financial services.

"Kotak Mahindra has a strong commitment to be a part of this growing financial hub. We already have a presence in Dubai through Kotak Mahindra (International) Ltd for over a decade now. The opening of the KMUK branch will further strengthen our presence here," said KMUK director Shyam Kumar in a statement Tuesday, marking the inauguration.

KMUK, a part of the Kotak Mahindra group, was licensed by the Dubai Financial Services Authority to conduct its operations from the DIFC branch.

KMUK plans to offer its customers access, advisory and investment management services for the Indian capital markets. The targeted clientele includes institutions and high net worth individuals.

The group has a net worth of around $450 million and employs over 5,000 employees in its various businesses spanning 88 cities in India and offices in New York, London, Dubai and Mauritius.

Kotak Mahindra has international partnerships with Goldman Sachs - one of the world's largest investment banks and brokerage firms - for investment banking and broking and Old Mutual - a large insurance, banking and asset management conglomerate - for life insurance.