India Has Second-Largest Workforce For Citi, Says Ashu KhullarAs per reports, Citi is hiring around 5000 people every year for its service centre in India, including sophisticated artificial intelligence and machine learning jobs

Citi India CEO Ashu Khullar said that India has the second largest workforce for Citi after it exits consumer business in Mexico, according to a report by TOI.

"It may seem counterintuitive when we are selling our consumer business, but the reality is that despite the sale, which is strategic global decision, India is the front and centre of Citi's strategy. After the sale of consumer business in Mexico, it will be the second-largest employee force, and in terms of revenues, globally, it is a very meaningful franchise for us," said Khullar in a statement.

Citi is hiring around 5000 people every year for its service centre in India, including sophisticated artificial intelligence and machine learning jobs. As per Kullar's words, "Among foreign banks, we have the widest breadth and depth of products in institutional banking. We have a 30 per cent share of MNCs in India and a similar 30 per cent in custody flows. We have an 8 per cent share of India's trade volumes, 40 per cent of India's unicorn banks with us, and we do around 4.5 per cent electronic payments."

"We will significantly investing in the India business to further support clients. It will go into building our transaction services business, working capital and on our technology platform to be able to process large volumes of transactions," added Khullar.

While mentioning that Citi's focus is on institutional business, Khullar said that, "If you look around the world, I don't think you will find any global bank in the consumer or retail banking segment with a material market share in a non-home market. The return on capital is far better if we focus on institutional clients rather than take on local banks in retail banking on their hometurf."