Three Indian Cities Among World’s Top 30 Financial Services Markets, Report Says
New Delhi — Mumbai, Delhi NCR and Bengaluru are among the world’s top 30 financial services markets, reflecting India’s growing strength as a global talent hub for the sector, according to a report released Thursday.
The report by real estate consultancy Colliers India said Indian cities are favorably positioned because of labor availability, a strong talent pipeline, venture capital funding activity and industry output.
Financial services firms are increasingly reassessing their location strategies as they balance access to skilled talent, cost competitiveness and rapid technological change, the report said.
Mumbai was classified among the leading “global centers” for financial services talent, alongside major international markets. Delhi NCR was identified as a prominent “strategic center.”
Bengaluru, Chennai, Hyderabad and Pune were listed among the leading “domestic and operational centers” globally.
The report also said Bengaluru, Mumbai and Pune occupied the top three positions in the Asia-Pacific labor index rankings.
“India is rapidly strengthening its position as a global financial services hub, backed by a deep talent pool, technology expertise and operational scale,” said Arpit Mehrotra, managing director, Office Services, Colliers India.
He said that as firms increasingly look beyond traditional global financial headquarters and delivery centers, Indian cities are well positioned to support both strategic and high-value business functions.
According to Mehrotra, rising office space demand from leading global and domestic banking, financial services and insurance firms could result in the BFSI sector accounting for 15 percent to 20 percent of office demand in India over the next few years.
The report said India continues to lead the Asia-Pacific region in talent depth and labor strength, with Delhi NCR, Mumbai and Bengaluru ranking among the region’s strongest markets for financial services talent.
India’s financial services ecosystem is also becoming more diversified, with cities strengthening front-office capabilities while moving up the value chain in areas such as digital banking, risk management, data analytics and artificial intelligence, the report said. (Source: IANS)
