Because of its strong economic growth and number of capable engineers, India could become the world's investment hub, says CFA Institute.
Mumbai: India with plenty of young talents around has the potential to become the world's future investment hub and is expected to be the fastest-growing market for investment professionals over the next decade, said a study by CFA Institute, the global association of investment professionals.
"Expectations are for a 1.5 per cent CAGR in head count over the next 10 years for "core investment professionals", defined as those working in investment industry roles involved with making investment decisions and understanding client needs. India is expected to have the highest growth rate of 2.9 per cent CAGR. India, because of the increasing demand for financial services, its strong economic growth, and its number of capable engineers-could become the world's investment hub," said Vidhu Shekhar, Country Head-India, CFA Institute.
Inputs to the report included a global survey of 3,832 CFA Institute members and candidates regarding their career paths, career management, and expectations of the industry and their employers, as well as a survey of 133 industry leaders on trends regarding the world of work in investment management. According to the study India is expected to be the fastest-growing market for investment professionals in the next decade.
In addition to benefiting from the country's strong economic growth and the population's increasing demand for financial services, India enjoys strong tail winds in the form of favorable globalisation and technology trends.
"India's education system, most notably, the Indian Institutes of Technology (IIT), with campuses across the country, has produced a steady stream of capable engineers. As employers ride the wave of globalisation, the India operations at many major international investment fund managers have grown to account for 10 per cent - 20 per cent of these managers' global workforce today, compared with almost zero a decade ago. The positions that multinational investment firms fill in India have been extended to include more investment roles, in addition to IT and operational roles," said CFA Institute report titled "Investment Professional of the Future.