Closing the Finance Talent Gap: A New Opportunity for the EU and India

The international financial industry is transforming very fast driven by technological disruption, evolving regulations, and an ever-growing appetite for investment. In this rapidly shifting environment, demand for high-caliber finance consultants and accountants is also increasing - especially in regions like the European Union and India.

But both markets are facing a curious paradox: an increasing talent shortfall amid an overabundance of qualified professionals.

The European Challenge

In the EU, factors like post-Brexit restructuring, changing ESG and GDPR requirements, and rising M&A activity have pushed demand for finance professionals to new heights.

However, this demand is being blocked by several factors: an aging workforce, waning interest in traditional finance roles among younger generations, and a growing digital skills gap. According to a 2024 report, 75% of employers across 21 European countries are struggling to find candidates with the right mix of expertise - a significant increase from 42% in 2018.

India’s Paradox: Talent in Abundance, but Not Always Aligned

India, meanwhile, is producing finance talent at an unmatched scale - boasting over 2.5 million finance graduates annually, including more than 300,000 Chartered Accountants, MBAs, and CFAs.

Most are well-versed in international standards and advisory practices. However, gaps remain in global exposure, digital finance proficiency, and niche consulting expertise.

The problem isn’t a lack of talent - it’s a failure to align, deploy, and upskill the workforce for global finance needs.

India’s Financial Powerhouses

India has quietly become the world’s financial talent factory - already powering some of the biggest names in global finance:

• Goldman Sachs: 10,000+ employees in Bengaluru managing global IBD operations

• JPMorgan Chase: 50,000+ in India covering risk, treasury, and blockchain finance

• Morgan Stanley: 10,000+ in Mumbai focused on equity research and trading tech

• HSBC: 40,000+ in Hyderabad driving global compliance and fraud detection

• BlackRock: Mumbai hub developing AI-powered Aladdin analytics

• Barclays: Pune team executing $1 trillion+ in daily trade settlements

• Deutsche Bank: 12,000+ in Bengaluru running FICC and prime brokerage tech

Figures are based on the latest annual reports and media disclosures. Actuals may vary with hiring cycles.

The Solution? Smarter Deployment

To bridge the talent gap, European firms need to rethink how they tap into global finance expertise - and India is central to this equation.

Key solutions include Global Capability Centers (GCCs), hybrid or remote finance teams, and nearshoring and cross-border collaboration. Indian professionals are already running critical functions - from FP&A to ERP transformations for multinational companies.

Global Collaboration Is Key

Better coordination between professional bodies like ICAI, ACCA, CPA, and CIMA can help harmonize certification standards, enable smoother cross-border mobility, and elevate industry quality on both sides.

Meanwhile, digital upskilling in finance analytics, regulatory technology, and international advisory should be a shared priority.

India must also expand its focus beyond metro cities. With adequate digital infrastructure, Tier 2 and Tier 3 cities offer a massive, untapped talent pool ready to support global finance.

The skill is out there - what’s missing is strategic congruence.

With smarter access, future-ready skill investment, and true global cooperation, the EU and India can turn today’s misalignment into tomorrow’s competitive edge in global finance.

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About the Author:

Suhaas Chngani is a Mumbai-based finance expert with deep expertise in financial planning, valuations, and M&A. He has advised multinationals and growth-stage companies across real estate, retail, and insurance, and specializes in structured finance, fundraising, and investor strategy.