Global asset management giant BlackRock plans to expand its Indian operations significantly by hiring nearly 1,200 new employees, according to a Bloomberg report. This move comes as the company aims to strengthen its artificial intelligence (AI) capabilities and bolster its presence across India’s financial and technology sectors.
Strengthening India Operations through iHubs
BlackRock’s expansion will focus on enhancing its support hubs, or “iHubs,” located in Mumbai, India’s financial capital, and Gurugram, near New Delhi. These hubs currently serve as crucial pillars for the company’s operations. The new recruitment drive will primarily target engineers and data specialists, supporting BlackRock’s strategy to develop technology-driven financial solutions.
With the addition of 1,200 hires, BlackRock’s workforce in India is expected to grow to approximately 3,500 employees.
Boosting Presence in Bengaluru via Preqin Acquisition
In a parallel move, BlackRock is poised to acquire a global capabilities centre in Bengaluru through its proposed takeover of Preqin, a prominent data provider. This facility, once integrated, will house around 1,500 employees. Bengaluru’s strong IT ecosystem is expected to complement BlackRock’s technology and data ambitions, enhancing the company’s global service capabilities.
Focus on AI and Data Analytics
BlackRock’s India expansion aligns with its broader objective to leverage artificial intelligence and data analytics for enhancing asset management services. By investing in technology talent, the firm seeks to drive innovative financial solutions, aiming to stay at the forefront of industry advancements.
Although BlackRock has not officially commented on the hiring plans, the initiative underscores India’s growing role as a strategic hub for financial technology development.
Impact on India’s Financial and Technology Sectors
This large-scale expansion is expected to create substantial job opportunities, further integrating India into the global financial ecosystem. The move also reflects a wider trend of multinational firms utilizing India’s highly skilled tech talent to drive growth and innovation in financial services.
As BlackRock deepens its footprint in the country, experts anticipate a ripple effect on both employment and technological advancements in India’s financial sector.
