https://economictimes.indiatimes.com/industry/banking/finance/banking/citibank-to-boost-investment-in-india-as-firms-eye-global-expansion-viswas-raghavan/articleshow/124917840.cms
10 replies (most recent on top)
Citi needs from Indian employees. 50% in some European locations is a small porcentaje. There is room to reach 100% and fire all local employees. Expensive and complaining all the time.
(Hope subtled sarcasm will be understood.)
@131 Cute but no. California's economy is more than some other countries' combined economy, but it is certainly not the 4th largest economy. Americans really need to learn a lot more than they do about the rest of the world.
@10b actually California is the worlds 4th largest economy.
@zk Vis is the head of Banking. His role is not outsourcing, but trying to identify how to increase wallet size. There is a lot of movement in the Indian market right now which Vis is hoping to tap into by hiring more bankers who can cut deals. Your mindset is stuck on India being a cheap labor provider. When was the last time looked into the list of countries with the biggest economies?
"The 10 largest economies in the world as of October 2025 are the USA, China, Germany, Japan, India, the UK, France, Italy, Russia, and Canada" and India has since surpassed Japan to become the 4th largest economy...if you were the head of banking at Citi or any of the other bulge banks, would you not want to tap into that market? Good grief, the stupidity here sometimes is mind boggling
https://cleartax.in/s/world-gdp-ranking-list
HAHA are you an Indian? Why are they booming? Maybe because the Fed printed so much money that now every second halfwit is trading options there on credit. What does stock market have to do with offshoring? :D
Indian equity markets are booming so it makes sense to boost investment there.
KYC maker is being offshored to india, manager have already been notified but told not to inform teams til Jan where they will begin training them. Central bankers are being offshored to india by end of 2026 with the new system that's replacing Concierge in july less people are needed.
Unfortunately, in my experience the replacement ratio for mid-level employees is close to one to five.
Wage costs have been rising in India in recent years.
Still, if an Indian resource earns 20% of their US equivalent and it only takes two of them to replace the more expensive resource, then it's a win for Citi.
Euphemism for cutting jobs in high-cost locations 😄 They never learn - move jobs until you get the next 1bln fine and then start hiring in NYC or LDN again...