Baltimore-based T. Rowe Price is widely expected to soon join some of its key competitors in setting up an asset management venture in India, news reports from Asia speculate.

Prudential, Franklin Templeton, Principal and Merrill Lynch already operate in the country. Most are through joint ventures with prominent Indian partners. The banks HSBC, ABN AMRO and Deutsche are also present in the space. UBS and AIG, meanwhile, have expressed interest in the growing region, reports say.

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