India’s banking, financial services and insurance (BFSI) Global Capability Centers (GCCs) is expected to grow from an estimated $ 40-41 billion in 2023 to $ 125 billion by 2032, according to a report from Quess Corp. The growth is driven by increased investments in artificial intelligence (AI), modernization of payment systems, and an increased focus on cyber security.
India is currently organizing around 190 BFSI GCCs, with around 540,000 professionals – accounting for 25 percent of the total GCC staff in the country.
While Tier-1 cities continue to dominate, which contributes to 88 percent of the total demand, Tier-2 cities stand up as new Talenthubs, with vacancies that grow 42 percent on an annual basis. This trend means a shift in recruitment strategies and infrastructure investments outside of traditional metro lines.
AI and data engineering rolls are now good for 29 percent of all new positions in BFSI GCCs. However, the industry is confronted with a skill gap of 42 percent in these areas, creating intense competition for talent and upward pressure on salary packages.
Kapil Joshi, CEO -IT staff at Quess Corp, said: “The BFSI GCC sector went beyond its traditional role to a decisive phase of growth. AI, cloud and payments are no longer experimental experimental; they are core company functions that are reconsidered by GCCs.”
Peak in the demand for cyber security and regtech talent
BFSI GCCs increase investments in zero-trust architectures, advanced cryptography and regulating technology (Regtech) to tackle the growing cyber threats and regulatory testing. Important areas such as AI-driven fraud analyzes, identity gland and compliance monitoring are among the fastest growing functions.
As a result, trained professionals in these domains now contain premium salaries-1.5x to 4x higher than traditional IT roles, which underlines the strategic importance of cyber security expertise in India.
Published on August 21, 2025
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