Executives of US financial technology company Broadridge said that they will increase the number of employees in India by 26% in three years

U.S. fintech firm Broadridge Financial will increase its India technology workforce by 26% to 6,800 over three years as it prepares to sell its products in the world’s most populous country, an executive told Reuters.

The company, whose clients include JPMorgan Chase, Bank of America and Wells Fargo, currently only has technology centers in India.

India managing director Sheenam Ohrie said the company plans to sell its products locally through an acquisition strategy “in the short term”.

“By 2030, India will become the third largest economic power. So, if that is the case, then you should sell there,” Oli said earlier this week, without mentioning details.

She expects the majority of new hires in India to be software engineers, as the company looks to modernize its existing “legacy” technology.

Broadridge provides investor communications services and financial technology software to banks, broker-dealers and asset managers to conduct transactions.

The plan comes at a time when multinational companies are increasingly setting up local offices or global competency centers (GCCs) in India to support their day-to-day operations, research and development and cybersecurity.

“We have a lot of customers who have GCCs in India. Our global leaders of more than 20 premium customers are driving decisions for our products in India. So we are establishing a zero-distance approach,” said Ohrie.

For example, she said, Broadridge has been working directly with GCC counterparts on certain prime banking clients in recent months to make decisions faster.

The market size in India’s GCC is expected to grow from $64.6 billion in 2024 to $99 billion to $105 billion in fiscal 2030, according to a report by IT industry body Nasscom and consulting firm Zinnov.

Broadridge’s India team works on BondGPT, an LLM-based product that answers bond queries, and distributed ledger repurchase protocols, which help clients improve cash management. (Reporting by Sai Ishwarbharath B; Editing by Dhanya Skariachan and Sonia Cheema)