BlackRock to hire 1,200 in India, expands Mumbai office amid AI, data push
BlackRock Inc., the world’s largest asset manager, is set to expand its India operations by hiring around 1,200 employees across its support hubs in Mumbai and Gurugram, Moneycontrol reported on Wednesday.
This hiring spree will boost BlackRock’s workforce in these cities by nearly one-third, adding to its existing 3,500 employees.
The recruitment drive aims to enhance BlackRock’s artificial intelligence (AI) capabilities and expand its iHubs—innovation and support centres responsible for investment research, risk management, financial engineering, business operations, and data analytics.
The company is particularly focused on hiring engineers and data specialists to strengthen these functions.
Additionally, BlackRock is acquiring a global capabilities centre (GCC) in Bengaluru with around 1,500 employees through its planned purchase of data firm Preqin. This acquisition is expected to further enhance its technology and data-driven operations.
BlackRock expands office space in Mumbai
To accommodate its growing workforce, BlackRock has secured additional office space in Mumbai’s Goregaon from Oberoi Realty Ltd. The lease agreement, valued at approximately ₹4 billion ($45.9 million), was first reported by The Economic Times.
India’s expanding role in global financial services
India is emerging as a strategic hub for global financial firms, with multinational corporations shifting from traditional back-office functions to high-value financial services.
The country’s GCC market is projected to reach $110 billion by 2030, employing over 4.5 million people, according to Ernst & Young.
India’s Union Budget 2025 mentioned the country is home to more than 1,700 GCCs, representing 17% of such centres globally.
Several leading financial institutions, including JPMorgan Chase, HSBC, Apollo Global Management, and Goldman Sachs, have established significant GCC operations in India. Goldman Sachs, for instance, employs approximately 9,000 people across its Bengaluru and Hyderabad centres.
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