Three Indian cities rank among world's top 30 financial services markets: Report
New Delhi, June 11
India is strengthening its position as a leading global talent hub for financial services, with Mumbai, Delhi NCR and Bengaluru ranking among the world's top 30 financial services markets, according to a report released on Thursday.
A report by real estate consultancy Colliers India said Indian cities are favourably placed in terms of labour availability, talent pipeline, venture capital funding activity and industry output.
Financial services firms are increasingly reassessing location strategies as they balance access to talent, cost competitiveness and rapid technological change, it said
City-wise, Mumbai was classified among the leading 'global centres' for financial services talent alongside major international markets, while Delhi NCR emerged as a prominent 'strategic centre'.
While Bengaluru, Chennai, Hyderabad, and Pune were identified as one of the leading 'domestic and operational centres' globally.
Moreover, Bengaluru, Mumbai and Pune occupied the top three positions in the Asia-Pacific labour 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 added that as firms increasingly look beyond traditional global financial headquarters and delivery centres, Indian cities are well positioned to support both strategic and high-value business functions.
According to Mehrotra, increasing office space uptake by leading global and domestic banking, financial services and insurance (BFSI) firms could result in the sector accounting for 15-20 per cent 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 labour strength, with Delhi NCR, Mumbai and Bengaluru ranking among the region's strongest markets for financial services talent.
According to the report, India's financial services ecosystem is becoming increasingly diversified, with cities strengthening front-office capabilities while simultaneously moving up the value chain in areas such as digital banking, risk management, data analytics and artificial intelligence.
— IANS
Reader Comments
While this is good news, we need to see if the benefits reach beyond high-paying jobs. The cost of living in Bengaluru has become exorbitant - salaries need to match. And what about financial inclusion for rural India? That's where real growth lies. 🤔
Impressive growth story! I work in wealth management in London, and we're seeing more outsourcing to Mumbai and Pune. The quality of work is excellent. But one concern - with AI automating many analysis roles, India needs to keep investing in advanced skills like risk management.
So proud as a Mumbaikar! 🎉 Our city's financial heart is beating stronger. But let's not forget - while big money flows, financial literacy among common people needs equal attention. The hawala market and cash economy still dominate in many sectors.
Great report, but ranking without considering infrastructure and regulatory challenges feels incomplete. Try getting through CST during peak hours or dealing with SEBI complexities 🙃. We have the talent, but ease-of-doing-business needs massive improvement.
Worked in fintech in Bangalore for 7 years - can confirm the talent pool is intense. With UPI and digital payments revolution, India is actually leapfrogging Western markets in some areas. Next step: making our own global financial products instead of just servicing others. Jai Hind! 🇮🇳
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