BlackRock Expands India Operations with 1,200 New Hires

BlackRock Inc., the world’s largest asset manager, is significantly increasing its workforce in India, planning to hire 1,200 professionals across its support centers in Mumbai and Gurugram. This expansion will boost BlackRock’s current workforce in these locations by about one-third, adding to its existing 3,500 employees, according to a report by Moneycontrol.

The company’s hiring spree is focused on enhancing its artificial intelligence (AI) infrastructure and expanding its innovation hubs, known as iHubs. These centers manage key functions such as investment research, financial engineering, business operations, risk management, and data analytics. BlackRock is particularly looking for engineers and data specialists to advance these initiatives.

In addition to new hiring, BlackRock is acquiring a global capabilities center (GCC) in Bengaluru as part of its planned acquisition of data firm Preqin. This center, which currently employs around 1,500 people, will further support the company’s technology-driven operations and reinforce its commitment to data and AI-led financial services.

To accommodate its growing workforce, BlackRock has secured additional office space in Goregaon, Mumbai, through a lease agreement with Oberoi Realty Ltd. The transaction, estimated at $45.9 million, was first reported by The Economic Times.

India is emerging as a major hub for global financial services, with multinational firms expanding beyond back-office roles into high-value operations. The country’s GCC sector is expected to grow to $110 billion by 2030, employing over 4.5 million professionals. Currently, India hosts more than 1,700 GCCs, accounting for 17% of such centers worldwide, as noted in the Union Budget 2025.

Several leading financial institutions, including JPMorgan Chase, HSBC, Apollo Global Management, and Goldman Sachs, have substantial GCC operations in India. Goldman Sachs alone employs around 9,000 people across its centers in Bengaluru and Hyderabad, further highlighting India’s increasing importance in the global financial landscape.