Well before the hiring plans become public, several global financial institutions have firmed up strategies to scale their presence in India through global capability centres, according to people familiar with the matter.
Global players such as Sumitomo Mitsui Banking Corp and Julius Baer Group are preparing to expand their India operations by setting up or strengthening GCCs. They are joining US-based firms Charles Schwab Corp and Vanguard Group in plans to collectively hire at least 1,000 professionals this year across key cities, including Chennai and Hyderabad, the people said. They declined to be identified as the discussions involve private plans.
The move highlights India’s rising importance as a preferred destination for global capability centres. International banks and financial services firms are increasingly using India to access a large, skilled talent pool at competitive costs while building technology, risk management and operations teams that support worldwide business functions.
This expansion drive is also being shaped by tighter US immigration policies. Higher visa fees and increased scrutiny of skilled-worker programmes such as the H-1B under US President Donald Trump have made overseas deployment more complex. As a result, global firms are choosing to localise more roles in India instead of relocating staff to the US.
“Rising compliance costs and tightening visa regimes are accelerating an inevitable shift to India’s GCC industry,” said Simar Singh, partner at KPMG. “Banks need regulatory capability at scale, and today that combination of talent, cost, and delivery maturity exists only in India,” he said.
Several other global financial firms are following a similar path. Copenhagen Infrastructure Partners set up a GCC in India towards the end of 2025, adding to the growing list of international players building long-term capabilities in the country.
Sumitomo Mitsui Banking Corp, Julius Baer Group, Charles Schwab Corp and Vanguard Group did not respond to emails seeking comment.
The new roles are expected to span research, payments, operations and digital assets. There is also a strong focus on artificial intelligence and automation, as firms aim to centralise and streamline global processes through their India-based centres, the people said.
Most recently, UBS Group AG opened a new global capability centre in Hyderabad, further reinforcing the city’s position as a major GCC hub in southern India.
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