India’s Banking, Financial Services & Insurance (BFSI) Global Capability Centers (GCCs) are shifting from cost arbitrage to strategic value creation. Valued at ~$41 billion in 2023, the sector is projected to reach $125 billion by 2032, powered by modernization mandates, digital transformation, and access to specialized talent at scale.
Global banks are centralizing core functions in India—product engineering, data science, research, and risk—rather than just back-office work. Hiring is tilting to future-focused roles: AI and data engineering (~30% of new hires) for fraud detection, personalization, and predictive analytics; cloud architecture and security to accelerate migration and resilience; payments modernization for real-time rails, open banking, and cross-border flows; and cybersecurity spanning threat intel, red teaming, and compliance.
A fresh catalyst: the US H-1B visa fee hike, which raises onshore costs and uncertainty, is nudging institutions to scale India-based teams for high-value work—fueling a potential reverse brain drain as skilled professionals opt into India’s booming GCC ecosystem.
What’s changed: GCCs now operate as innovation hubs with P&L accountability, agile delivery, and platform roadmaps—embedded in enterprise strategy. The result is a faster, more resilient operating model that anchors global BFSI transformation from India.
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