Bengaluru has emerged as the leading hub for active talent with in-demand skills in the BFSI Global Capability Centres (GCCs) sector, according to a new report by talent solutions provider Careernet. The city is home to 35 per cent of India’s BFSI GCCs and hosts 26 per cent of active jobseekers with the skills required by these centres.
Hyderabad ranks as the second most preferred city for BFSI GCCs looking to establish new centres or expand operations within India. It is also the top choice for jobseekers willing to relocate, following Bengaluru, the report revealed.
Titled ‘The Landscape of Active Talent Pool with Skills in Demand for BFSI GCCs in India’, the report offers insights into the talent pool of active jobseekers with skills sought by BFSI GCCs. The analysis, based on Careernet’s internal data, job portal trends, and data from career sites of leading employers, covered a sample size of 241,623 active candidates.
American multinationals dominate BFSI GCCs
The report highlights the dominance of American multinationals in the BFSI GCC sector in India, with two out of three such centres operated by US-based companies. These centres are substantial in scale, with over 50 per cent employing more than 1,000 individuals, and 15 per cent surpassing 10,000 employees. Additionally, approximately 35 per cent of BFSI GCCs are located in more than one city, with 18 per cent having a presence in three or more locations.
Cities with most tech talent
In terms of the active talent pool, Bengaluru is followed by Pune (15 per cent), Hyderabad (14 per cent), and Chennai (12 per cent). Delhi/NCR accounts for 10 per cent of this talent pool, while Mumbai contributes 8 per cent. The remaining 15 per cent of active jobseekers are spread across other cities.
The report further emphasises the tech domain as the largest talent pool, accounting for 34 per cent of active jobseekers, followed by infrastructure and functional domains at 19 per cent each. The operations domain lags, with only 12 per cent of the active talent pool. However, emerging fields like analytics and NextGen are quickly gaining momentum, each representing 8 per cent of jobseekers, signalling a shift towards next-generation technologies and expertise.
Commenting on the report, Neelabh Shukla, chief business officer of Careernet, said, “With a vast pool of skilled professionals, India offers GCCs the ideal ecosystem to drive growth, innovation, and transformation. By 2030, we envision over 250 BFSI GCCs and around a million BFSI professionals propelling India’s ascent as a global talent hub.”
“Contrary to the traditional talent supply-demand gap in India, the current job market is witnessing an abundance of skilled professionals interested and available for BFSI GCCs to attract and employ. India’s emergence as a global hub for financial talent is driven by the perfect confluence of a robust talent pool, a thriving existing BFSI GCC industry, and a growing demand for digital innovation driven from India hubs,” he added.
First Published: Sep 02 2024 | 3:16 PM IST
