New Delhi, June 11 (IANS). India is strengthening its position as a leading global talent hub for financial services. Mumbai, Delhi NCR and Bengaluru are among the top 30 financial services markets in the world. This information was given in the report released on Thursday.
A report by real estate consultancy ‘Colliers India’ said Indian cities are well positioned in terms of labor availability, talent pipeline, venture capital funding activities and industry output.
According to the report, financial services companies are rethinking their location strategies as they try to balance access to talent, cost competition and rapid technological change.
The report said that Mumbai was included among the major international markets as well as major ‘global centres’ for financial services talent, while Delhi NCR emerged as an important ‘strategic centre’.
At the same time, Bengaluru, Chennai, Hyderabad and Pune were identified as the world’s major ‘domestic and operational centres’.
Additionally, Bengaluru, Mumbai and Pune took the top three positions in the Asia-Pacific Labor Index ranking.
Arpit Malhotra, Managing Director, Office Services, Colliers India, said, “India is rapidly strengthening its position as a global financial services hub, drawing on the best talent, technology expertise and the ability to operate at scale.”
He further said that as companies look beyond traditional global financial headquarters and delivery centres, Indian cities are well-positioned to support strategic and high-value business engagements.
According to Malhotra, due to the increasing demand for office space by leading global and domestic banking, financial services and insurance (BFSI) companies, the sector’s share in the total office demand in India may reach 15-20 per cent in the next few years.
According to the report, India remains at the forefront in the Asia-Pacific region in terms of talent availability and potential. Delhi NCR, Mumbai and Bengaluru are among the strongest markets for financial services talent in the region.
According to the report, India’s financial services ecosystem is increasingly diversifying. Cities are strengthening their front-office capabilities as well as moving up the value chain in areas such as digital banking, risk management, data analytics and artificial intelligence.
–IANS
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