American multinational investment firm Morgan Stanley is eyeing to expand its workforce in India, according to its Global Head of Human Resources, Mandell Crawley.
In an exclusive interview given to the Economic Times, Crawley said that most of these new hirings will happen across the company's global capacity centers, located in Mumbai and Bengaluru.
It should be noted that Morgan Stanley already has over 10,000 employees in India.
Crawley said that India is now the second-largest location after New York for the financial services giant, and Mumbai.
He further pointed out that Mumbai and Bengaluru will soon emerge as the company's largest centers globally.
The decision of Morgan Stanley to hire more employees comes at a time when several multinational firms hesitate to embrace such a move due to adverse economic conditions and market uncertainties.
The Economic Times report added that more than 30 percent of employees working for Morgan Stanley in the tech sector is currently in India, while the other domains of employment operating from India include finance, legal and compliance, HR operations, internal audit, and firm risk management.
Crawley said that Morgan Stanley currently has over 23,000 employees in the world, and 50 percent of them are currently working from India, with over 80 percent being millennials.
He also said that economic uncertainty will not affect India in such a deep magnitude when compared to Europe and the US.