American fintech Broadridge is significantly increasing its workforce in India, aiming to leverage the country’s rapidly expanding customer base.
Broadridge Financial plans to grow its tech team in India by 26%, reaching a total of 6,800 employees over the next three years, with a majority of the new positions focused on software engineering, according to the company’s India Managing Director, Sheenam Ohrie, in an interview with Reuters.
“By 2030, India will be the third-largest economic power. So, if that is the case, then you should be selling there,” Ohrie stated.
Broadridge plays a crucial role in providing infrastructure for corporate governance, capital markets, and wealth and investment management. Its technology facilitates over seven billion investor communications annually and supports daily trading activities involving more than $10 trillion in securities worldwide.
The company has noted that many multinationals are establishing global capability centers (GCCs) in India to enhance their operational processes, research and development, and cybersecurity measures.
According to Ohrie, “We have many customers who have GCCs in India. More than 20 of our premium clients have global leaders making strategic decisions regarding our products from India. Therefore, we are adopting a zero-distance approach.”